TSMC shares rebounded on Wednesday, July 8, closing higher despite a broader sell-off on Wall Street. A late-session block trade pushed the stock up 1.02% to a closing price of NT$2,465. The gain served as a key factor in stabilizing and lifting the Taiwan Stock Exchange.
GF Securities reiterated its Buy rating and raised its price target for the chipmaker to NT$2,900. The firm expects TSMC to increase its full-year guidance during the upcoming Q2 analyst meeting on July 16.
This positive outlook is driven by sustained demand for AI accelerators and CPUs. Market optimism remains high as the company prepares for its mid-July financial update.