TSMC(US:TSM) Ge Long Hui·2025-10-16 08:20Core Insights - TSMC reported a record net profit of NT$452.3 billion for Q3 2025, representing a 39% year-over-year increase [1] - The company expects Q4 sales to be between $32.2 billion and $33.4 billion, exceeding market expectations of $31.23 billion [1] - TSMC anticipates a gross margin of 59%-61% for Q4, slightly up from 59.5% in Q3 [1] Financial Performance - Q3 2025 net profit reached NT$452.3 billion, a record high [1] - Year-over-year growth of 39% in net profit [1] - Q4 sales forecasted between $32.2 billion and $33.4 billion, higher than market expectations [1] - Q4 gross margin expected to be 59%-61%, compared to 59.5% in Q3 [1] Market Outlook - TSMC expressed strong confidence in the ongoing demand for artificial intelligence (AI) [1] - The company noted that the AI market is developing positively and demand remains robust [1] - TSMC is cautious in planning for 2026, considering potential risks from tariffs [1] Capacity and Supply Chain - AI chip production capacity is currently tight, with TSMC working to expand supply [1] - The company expects that AI-related capacity will remain insufficient to meet demand until 2026 [1]