June 15, 2025 10:57 PM GMT TSMC | Asia Pacific M Idea Wafer price hike in 2026 and strong AI demand may offset the FX impact; OW TSMC remains our sector Top Pick. We expect stock to further re-rate amid the margin erosion on FX impact – AI demand remains strong into 2026, while TSMC should be able to hike global wafer price by 3-5% on average Stock gradually recovers after three overhangs removed: Over the past three months, we have been navigating through three overhangs: 1) Intel JV speculation, 2) AI dem ...