TSMC(US:TSM) Zhi Tong Cai Jing·2025-10-16 03:17Core Viewpoint - TSMC is expected to report strong earnings growth driven by robust demand for AI chips, with Q3 revenue projected to exceed $31.61 billion, reflecting over 30% year-on-year growth [1][2] Group 1: Financial Performance - TSMC's September revenue increased by 31.4% year-on-year, reaching NT$330.98 billion (approximately $10.84 billion), despite a 1.4% decline from August [1] - For the July to September quarter, TSMC's revenue is estimated at NT$989.98 billion (approximately $32.44 billion), a significant increase of 30.3% compared to NT$759.69 billion in the same period last year [1] - Monthly revenues for TSMC were NT$323.2 billion in July and NT$335.8 billion in August [1] Group 2: Analyst Sentiment - Analysts have become increasingly optimistic about TSMC's outlook, frequently raising revenue and earnings per share forecasts [2] - Strong AI demand and stable gross margins are supporting sustained market demand for TSMC's chips, according to analyst Mike Zaccardi [2] - Despite geopolitical uncertainties, TSMC's high valuation is deemed reasonable due to its double-digit earnings growth and favorable pricing trends [2]