Taiwan Semiconductor Manufacturing Company Limited (TSMC) reported a net income of NT$398.27 billion for Q2 2023, a 60.7% year-over-year increase. Revenue for the quarter reached NT$933.80 billion, up 38.7% year-over-year, driven by strong demand for AI chips and high-performance computing.
TSMC forecasts third-quarter revenues between $31.8 billion and $33.0 billion, indicating a 38% year-over-year growth. In addition, customers like NVIDIA Corporation and Apple Inc. continue to support TSMC’s growth trajectory, with a projected revenue increase of nearly 30% in U.S. dollar terms by 2025.
TSMC commands a 67% share of the semiconductor manufacturing market. Despite facing challenges from tariffs and U.S. export controls, the company’s strategic expansions into Japan, Germany, and the U.S. position it for continued success. Analysts project a short-term price target for TSMC’s stock at $244.75, up from a recent closing price of $237.56.
