摩根士丹利：TSMC_2024 年强势收官；Top Pick
摩根大通·2024-10-13 16:43
M Idea TSMC | Asia Pacific October 8, 2024 04:34 PM GMT 2024 to finish strongly; Top Pick Thanks to growing AI semi demand, we expect 4Q24 revenue to grow another 9% QoQ, with gross margin improving to 55.5%. At 18x our 2025e EPS, the stock still looks attractive; OW. 4Q24 revenue may grow 9% Q/Q; full-year revenue to grow 27% YoY in USD: TSMC will host an earnings call on October 17. For 3Q24, we expect both revenue (up 11% Q/Q) and GM (55%) to be at the higher end of guidance ( Exhibit 1 ). Key growth dri ...