Goldman Sachs released a report stating that during TSMC's second quarter results meeting, the significant increase in revenue and capital expenditure guidelines for the full year 2026 was a major surprise. Management raised the 2026 year-on-year revenue growth forecast to slightly above 40%, which was above 30%, better than the 39% estimate; and raised capital expenditure to US$60-64 billion, compared to US$52-56 billion, compared to US$56 billion. Although the gross profit margin of 67.7% for the second quarter was better than the company's own guidelines, it was lower than the 68.5% estimate and investors' optimistic expectations, making it a relatively weak point. Overall, the bank believes that more positive comments on AI demand during the meeting strengthened the long-term demand outlook. Management said demand was stronger than last quarter, and as a result, production capacity construction was accelerated, and an additional 100 billion US dollars was invested in Arizona. The bank raised TSMC's target price from NT$3,000 to NT$3,100, reaffirming the “buy” rating.

Goldman Sachs released a report stating that during TSMC's second quarter results meeting, the significant increase in revenue and capital expenditure guidelines for the full year 2026 was a major surprise. Management raised the 2026 year-on-year revenue growth forecast to slightly above 40%, which was above 30%, better than the 39% estimate; and raised capital expenditure to US$60-64 billion, compared to US$52-56 billion, compared to US$56 billion. Although the gross profit margin of 67.7% for the second quarter was better than the company's own guidelines, it was lower than the 68.5% estimate and investors' optimistic expectations, making it a relatively weak point. Overall, the bank believes that more positive comments on AI demand during the meeting strengthened the long-term demand outlook. Management said demand was stronger than last quarter, and as a result, production capacity construction was accelerated, and an additional 100 billion US dollars was invested in Arizona. The bank raised TSMC's target price from NT$3,000 to NT$3,100, reaffirming the “buy” rating.