TSMC shares fell 1.26% in Taiwan on August 19, 2026, closing below key moving averages. Brokerage CLSA raised its target price for the chipmaker to NT$3,700. This revision marks an 85% cumulative increase in the target price since the start of the year.
CLSA cited strong demand from Apple and essential capital expenditures for AI infrastructure as primary growth drivers. TSMC’s advanced packaging (CoWoS) capacity is currently fully booked due to overwhelming market needs.
Reports indicate that some back-end orders are overflowing to Intel’s facility in Malaysia to serve mutual key customers. This surge underscores TSMC’s critical role in the AI hardware sector despite short-term stock market fluctuations.