TSMC(US:TSM) Xuan Gu Bao·2026-01-15 06:57Group 1 - TSMC expects capital expenditures to surge to $56 billion in 2026, exceeding market expectations and reflecting strong confidence in the sustainability of global AI growth [1] - The company forecasts a revenue growth of nearly 30% in 2026, surpassing analyst average expectations [1] - TSMC's Q1 revenue guidance is projected to reach between $34.6 billion and $35.8 billion, exceeding Bloomberg's consensus estimate of $33.22 billion [1] Group 2 - TSMC's strong outlook signals positive trends for AI development, supporting demand for NVIDIA accelerators and alleviating concerns about the sustainability of data center spending by tech giants like Meta and Amazon [3] - TSMC reported a net profit of NT$505.7 billion for Q4 2025, a 35% year-over-year increase, exceeding market expectations [3] - The company’s gross margin improved from 59.5% to 62.3%, and operating margin increased from 50.6% to 54%, both surpassing analyst forecasts [3] Group 3 - A severe shortage of memory chips in 2025 may pose challenges to TSMC's broader business, as manufacturers prioritize high-end memory production for NVIDIA and AMD chips [4] - The memory shortage is expected to impact mobile device sales in 2026, with smartphone sales projected to decline by 11.6% year-over-year according to Macquarie Capital [4]