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UBS has raised its price target for Taiwan Semiconductor Manufacturing Co. Ltd. from NT$1,200 to NT$1,300, maintaining a 'Buy' rating following a strong Q3 2024 performance, where gross margin reached 57.8%. The company anticipates further growth, projecting Q4 revenue between $26.1 billion and $26.9 billion, driven by demand for advanced 3-nanometer and 5-nanometer technologies. For 2025, UBS forecasts a gross margin increase to 58.5%, supported by improved utilization rates and price adjustments.
UBS analyst Randy Abrams has raised the price target for Taiwan Semiconductor Manufacturing Co. Ltd. (2330:TT) (NYSE: TSM) to NT$1,300.00. This adjustment reflects the company's strong market position and growth potential.
ASML's disappointing performance contrasts with TSMC's impressive 54% rise in third-quarter net income, which reached 325.3 billion Taiwanese dollars, surpassing analyst expectations. Despite TSMC's strong results, a significant rally in the SOX semiconductor index is not anticipated, as the earnings season is just beginning and capital expenditure trends from major US tech firms will be crucial in shaping future market directions. The SOX index is expected to continue its consolidation phase, potentially returning to its previous bullish channel in the coming weeks.
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ubs raises taiwan semiconductor price target after strong q3 earnings report
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12:46 18.10.2024
ubs raises price target for taiwan semiconductor manufacturing to nt 1300
13:27 17.10.2024
semiconductor market outlook mixed as tsmc shines and asml disappoints
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09:41 17.10.2024
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