TSMC(US:TSM) Jing Ji Ri Bao·2025-10-26 23:21Group 1 - TSMC is capitalizing on the AI market opportunities, with a strong demand for its advanced 3nm process as smartphone market inventories recover [1][3] - The iPhone 17 series has shown better-than-expected sales, leading Apple to increase orders, which boosts TSMC's 3nm family order momentum [1][2] - Research firm Counterpoint Research predicts TSMC's market share in smartphone SoCs at 87% by 2025 for 5nm and below processes, increasing to 89% by 2028 [2] Group 2 - TSMC anticipates strong AI-related demand through 2025, while non-AI terminal markets are showing signs of recovery [3] - The recovery in high-end smartphone sales is expected to drive TSMC's order momentum, with a potential increase in utilization rates for previously weak 6/7nm capacities [3] - Demand for automotive semiconductors remains weak, pending inventory adjustments from suppliers [3]