New Street Research analyst Pierre Ferragu reiterated a Buy rating on TSMC’s Taiwan-traded shares. He sees about 34% upside for TSMC’s U.S.-listed American...
New Street Research says investors should overlook near-term softness in Taiwan Semiconductor Manufacturing’s business and focus on the company’s sizable long-term growth opportunity.
“We expect TSMC’s revenue to strongly rebound next year and reach $100 billion in 2025,” he wrote. We take “comfort our conviction from a bottom-up perspective, looking at how TSMC’s top customers, which we all know very well, will contribute to such growth.”In July, TSMC lowered financial guidance for the year, forecasting a decline of 10% year over year in revenue. TSMC dominates the market for manufacturing high-end chips.
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