TSMC(US:TSM) Ge Long Hui A P P·2026-01-16 04:28Core Viewpoint - Citigroup analysts indicate that TSMC's supply of advanced process chips may remain tight for some time, with management reaffirming efforts to narrow the supply-demand gap [1] Group 1: Advanced Process Chips - TSMC's management is focused on reducing the supply-demand gap in advanced process chips [1] - Despite rising costs for more advanced process nodes, AI demand is expected to positively impact TSMC's revenue and profit margins, strengthening its ability to maintain industry-leading profitability [1] Group 2: Advanced Packaging Business - Analysts project that TSMC's advanced packaging capacity could reach 1.2 to 1.3 million wafers by 2026, increasing to 1.8 to 2.0 million wafers by 2027 [1] Group 3: Investment Rating - Citigroup maintains a "Buy" rating on TSMC and raises the target price from 2,450 New Taiwan Dollars to 2,600 New Taiwan Dollars [1]