TSMC(US:TSM) Ge Long Hui·2025-10-17 03:44Group 1 - Goldman Sachs reports that TSMC's gross margin performance in Q3 exceeded expectations, with guidance for Q4 indicating continued growth in gross margin [1] - The company's outlook on AI has become more positive, with demand projections for AI stronger than three months ago, maintaining a long-term compound annual growth rate (CAGR) of approximately 45% for AI revenue, with potential for future upward adjustments [1] - TSMC is expected to increase its market share in the AI infrastructure market due to its leadership in advanced processes and packaging, with AI revenue growth potentially surpassing the overall market growth [1] Group 2 - TSMC is actively working to enhance its CoWoS advanced packaging capacity by 2026 to address supply-demand gaps [1] - Goldman Sachs has raised its earnings per share forecast for TSMC for 2025 to 2027 by 5% to 9%, and increased the target price for TSMC stock from NT$1600 to NT$1720, maintaining a "Buy" rating [1] - Citigroup has also raised its target price for TSMC to NT$1800, reiterating a "Buy" rating [2]