Aletheia Capital raised its price target on Taiwan Semiconductor Manufacturing Company (TSMC) to NT$5,000 for local shares and $1,000 for ADRs. The firm maintained its Buy rating.
Aletheia expects TSMC to sustain growth of more than 40% from fiscal 2026 through 2028. It cites soaring demand for AI accelerators and CPUs, wider adoption of chiplet architecture, and faster capacity expansion. The firm also expects TSMC’s earnings per share to more than double over that period.
TSMC shares fell on October 13 amid broader market pressure. Foreign investors sold Taiwanese stocks heavily as concerns grew about international AI and memory chip markets.
The decline came two days before TSMC’s closely watched third-quarter earnings report, which is expected to show strong growth.