UBS raised its price target for Taiwan Semiconductor Manufacturing Company (TSMC) while reiterating a Buy rating. The investment bank expects robust growth driven by surging demand for artificial intelligence chips. Analysts anticipate this momentum will fuel growth for years and potentially lead to price hikes by early 2027.
TSMC will report second-quarter earnings on July 16. Analysts forecast a substantial year-over-year increase in both revenue and earnings per share. The company remains the primary supplier for industry leaders including Apple, Nvidia, and AMD.
Institutional investors are also increasing their exposure to the semiconductor giant. Pictet Asset Management Holding SA recently expanded its position in the company.