Group 1 - TSMC's construction progress at the Dresden factory in Germany is proceeding smoothly [1]

Group 1 - TSMC is set to implement more advanced technology in its fifth and sixth fabs located in Arizona [1]

Core Viewpoint - TSMC (Taiwan Semiconductor Manufacturing Company) expects a revenue growth of approximately 30% in 2025 when calculated in USD, an increase from the previous estimate of nearly 20% in the mid-range [1] Group 1 - TSMC's revenue growth forecast for 2025 has been significantly revised upward from nearly 20% to about 30% [1]

台积电(TSM.N)：正致力于加快在亚利桑那州的产能提升。 ...

台积电(TSM.N)：第三季度新台币升值将压缩我们的毛利率。 ...

台积电(TSM.N)：在下半年，到目前为止还没有看到客户行为的任何变化，关税存在风险和不确定性。 ...

台积电(TSM.N)：在第三季度，预计业务将受到对我们领先技术的强劲需求的推动。 ...

Group 1 - The core viewpoint is that TSMC (TSM.N) expects its revenue for the third quarter to be between $31.8 billion and $33 billion [1]

Core Insights - TSMC reported a record net profit increase of 60.7% year-on-year for Q2 2025, driven by surging semiconductor demand in the AI sector [1][2] - The company's Q2 revenue reached NT$933.79 billion, with a net profit of NT$398.27 billion, translating to an earnings per share of NT$15.36 (US$2.47) [1] - Revenue growth was 38.6% year-on-year and 11.3% quarter-on-quarter, while net profit and earnings per share also saw significant increases [1] Financial Performance - Q2 gross margin was 58.6%, operating margin was 49.6%, and net margin was 42.7% [2] - Advanced process technologies (7nm and below) accounted for 74% of total wafer revenue, with 3nm, 5nm, and 7nm processes contributing 24%, 36%, and 14% respectively [2] Market Sentiment - TSMC's stock has gained significant attention, with a 44% increase since April and nearly 70% rise in its US Depositary Receipts [2][3] - Analysts expect TSMC to raise its full-year guidance and hint at further price increases for its products due to strong market demand [2][3] - Six brokerages, including HSBC and Deutsche Bank, have raised their price targets for TSMC following the recent sales data [3] Future Outlook - Analysts predict TSMC's revenue growth guidance for 2025 could exceed 20% due to ongoing AI demand [3] - Despite potential pressure from currency appreciation on profit margins, TSMC's strong market position and global recognition support its stock price [3] - The market remains favorable towards AI-related stocks, which bodes well for TSMC's future performance [3]

台积电(TSM.N)2025年Q2营收9337.9亿新台币，去年同期6735.1亿新台币。 ...