Taiwan Semiconductor Manufacturing, the world's leading semiconductor foundry, reported strong financial results, prompting multiple foreign brokerages to raise their price targets. Morgan Stanley increased its target price to NT$2,588, while Goldman Sachs set its target at NT$2,750.

Morgan Stanley noted that Taiwan Semiconductor Manufacturing expects its second-quarter 2026 revenue to increase by 10% quarter-over-quarter, surpassing the market consensus of 5%-10% growth. Despite weak demand in the personal computer and smartphone sectors and macroeconomic uncertainties, artificial intelligence demand remains very strong. The company also raised its full-year growth forecast to over 30%, up from the previous expectation of "close to 30%" year-over-year growth. As a result, Morgan Stanley revised its 2024 revenue growth projection to 36% year-over-year in U.S. dollar terms.

Goldman Sachs stated that Taiwan Semiconductor Manufacturing continues to have a positive outlook, driven by strong momentum in artificial intelligence. Benefiting from rising average selling prices and ongoing improvements in production efficiency, the company's first-quarter 2026 gross margin exceeded both prior estimates and market expectations.