交银国际发表研究报告指，台积电次季毛利率为58.6%，高于该行预期，认为台积电的毛利韧性远强于市场预期。管理层将全年按美元计收入按年增速指引由约25%上调至30%，并暗示新指引或仍然“保守”。报告提到，管理层认为美国政府放宽AI芯片限制进一步加大AI芯片需求。2纳米制程或于下半年上量生产，管理层重申上量进度与3纳米上量进度相似，且2纳米流片数大于同期3或5纳米流片数。长期而言，2纳米以下在美国的产能或占全球产能的30%。该行认为消费电子受贸易不确定性影响复苏温和，但AI高需求足以推动公司2纳米上线后维持3或5纳米价格，令2025年收入增速按美元计超过30%。该行上调对其目标价至280美元，评级“买入”。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.