Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) on Thursday delivered fourth-quarter results that blew past analyst expectations.
Taiwan Semiconductor reported quarterly net sales of $33.73 billion (1.05 trillion New Taiwanese dollars), up 20.5% year-over-year (Y/Y), topping the analyst consensus estimate of $33.27 billion. Net sales grew 5.7% quarter-over-quarter (Q/Q).
Net income and earnings per share were $16.31 billion (505.74 billion New Taiwanese dollars) and $3.14, up by 35.0% Y/Y, topping the analyst consensus estimate of $2.79.
CEO C.C. Wei said the company has directly validated AI demand with hyperscalers and their end customers, concluding that AI is a multi-year structural growth driver rather than a short-term cycle.
"All in all, I believe in my point of view, the AI is real. Not only real, it is starting to grow into our daily life. We believe that is kind of. We call it AI Megatrend," Wei said.
Taiwan Semiconductor Manufacturing shares gained 0.8% to trade $344.26 on Friday.
These analysts made changes to their price targets on Taiwan Semiconductor Manufacturing following earnings announcement.
- TD Cowen analyst Krish Sankar maintained Taiwan Semiconductor with a Hold and raised the price target from $325 to $370.
- Barclays analyst Simon Coles maintained the stock with an Overweight rating and raised the price target from $380 to $450.
Considering buying TSM stock? Here’s what analysts think:
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