TSMC stock price target raised to NT$3,500 by Aletheia Capital - Investing.com

TSMC's stock price target was raised to NT$3,500 by Aletheia Capital, reflecting market confidence in the company's leadership in advanced process technologies and strong demand in emerging markets su... Read original →

Raising TSMC’s price target to NT$3,500 reflects more than confidence in its 3nm leadership—it signals that cutting-edge foundry capacity has entered a phase of structural scarcity. Technologically, TSMC’s CoWoS advanced packaging is now the critical bottleneck for AI GPU shipments, compelling clients like NVIDIA to pre-book 2026 capacity and accelerating upgrades across EDA and photoresist supply chains. Geopolitically, while U.S. CHIPS Act ‘guardrails’ haven’t blocked TSMC’s expansion, yield delays at its Arizona fab reveal hidden costs in transnational tech replication. With Samsung’s 3nm GAA yields stagnant and Intel’s 18A not yet scaling, TSMC faces no near-term rival—but EU and India’s localization mandates could foster regional alternatives over time. Over the next 18 months, capex will pivot toward 2nm and A16 nodes, while surging AI inference demand may trigger unexpected tightness in mature nodes, creating a new profit tail.