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I was looking at TSMC's numbers and found what Morgan Stanley is projecting interesting. They estimate that their capital expenditures could reach $200 billion in the coming years, with factories operating above 100% capacity. This provides a guarantee that growth should be quite solid.
What caught my attention was the upward revision of projections: revenue growth in dollars revised to 36% in 2026 and second-quarter gross margin maintained near 66%. With this performance guarantee, it makes sense that they increased the target price from NT$2,288 to NT$2,588, maintaining the buy recommendation.
The numbers suggest that TSMC is well positioned to capitalize on chip demand in the coming years. Definitely a asset to keep a close eye on.