Bernstein: AI Demand Continues to Grow, Bullish on TSMC Revenue Outlook

On October 09 that Bernstein stated continued growth in AI demand and resilient demand for high-end smartphones may further drive revenue growth for Taiwan Semiconductor Manufacturing Company (TSM.N). Bernstein analysts noted that based on monthly revenue data, TSMC's third-quarter revenue reached NT$1.49 trillion, which was 3% above market consensus. The firm forecasts that TSMC's dollar-denominated revenue will grow 41% this year. Analysts indicated that TSMC will publish its complete third-quarter financial results on Thursday, with investors focusing on its 2-nanometer manufacturing capacity ramp-up, potential further expansion in the U.S., and outlook for 2027. Bernstein believes there is upside potential to its earlier forecast of 30% annual revenue growth for TSMC in 2027 and 2028. (Jin10)