Goldman Sachs: Raised TSMC's target price to and continued to be included in the "confident buy" list
. Goldman Sachs published a report, expecting TSMC's TSM revenue to grow steadily this year, up .% yearonyear in US dollars, compared with last year's revenue growth of .%, mainly benefiting from the strong demand for advanced process nodes, especially the continued strong momentum in the field of artificial intelligence AI. At the same time, the bank believes that TSMC's competitive environment is more favorable because Samsung and Intel face more difficulties in transitioning to advanced process nodes.
Therefore, the bank expects that starting this year, the prices of nm latvia phone number list and nm chip nodes will increase by midtohigh single digits, while the price of advanced packaging technology CoWoS may increase by %. Against the backdrop of rising prices, the bank estimates that TSMC's gross margin will rise to .% this year, compared with .% last year. In addition, the bank expects TSMC to have a high chance of raising its forecasts for earnings prospects and longterm revenue compound annual growth rate at its fourthquarter earnings analyst meeting to be held next Thursday.
The bank still expects the company's capital expenditure this year to increase from US billion last year to US billion. It lowered its earnings per share forecast for last year by .% to reflect the decline in revenue from mainland customers, and raised its earnings per share forecast for this year and next year by .% and .%. It raised its target price from US to US, reiterated its "buy" rating, and continued to list it on the "confident buy" list.