TSMC Should Maintain Long-Term Structural Growth -- Market Talk

Dow Jones

Jul 18

0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to "sell its value," the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 17, 2025 21:45 ET (01:45 GMT)

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TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 17, 2025 21:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TSMC Should Maintain Long-Term Structural Growth -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTSMC Should Maintain Long-Term Structural Growth -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-07-18 09:45</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 17, 2025 21:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2054465674.USD","symbol_name":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2552308453","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2552308453","pubTimestamp":1752803100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","BK4141":"半导体产品","LU0823414478.USD":"法巴经典能源转换基金","BK4581":"高盛持仓","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU2663582299.SGD":"BSF BLACKROCK SYSTEMATIC ASIA PACIFIC EQUITY ABSOL \"A2\" (SGDHDG) ACC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","03145":"华夏亚洲高息股","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE00BYQQ9H92.USD":"BNY MELLON GLOBAL LEADERS \"A\" (USD) ACC","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","BK4534":"瑞士信贷持仓","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","TSM":"台积电","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","BK4543":"AI","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU2211814178.USD":"ALLIANZ CLEAN PLANET \"AT\" (USD) ACC","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC"},"translate_title":"台积电应维持长期结构性成长--市场谈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03145":0.6,"TSM":0.9},"content_text":"0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 17, 2025 21:45 ET (01:45 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}