Core Viewpoint - Nomura's research report indicates that TSMC's capital expenditure budget for this year is between $52 billion and $56 billion, exceeding previous forecasts, reflecting the company's confidence in structural AI demand for 2028-29 [1] Group 1: Capital Expenditure - TSMC's capital expenditure forecast for 2026-27 has been raised to $54 billion and $63 billion, respectively, due to increased investments [1] - The anticipated increase in CoWoS supply for 2027 is expected as TSMC invests more [1] Group 2: Outsourcing Strategy - TSMC's strategy of outsourcing most of its WoS processes is expected to provide upward business potential for professional packaging and testing companies (OSAT) [1] Group 3: Earnings Forecast and Stock Target - Following TSMC's updated earnings guidance and operational leverage improvement, earnings per share estimates for 2026-27 have been raised by 7% and 4%, respectively [1] - TSMC's stock target price has been adjusted from NT$2,135 to NT$2,280, maintaining a "buy" rating [1]
大行评级｜野村：上调台积电目标价至2280新台币 上调今明两年每股盈测
Ge Long Hui·2026-01-16 07:41