Goldman Sachs Raises TSMC Price Target to $466 on AI Demand; Stock Surges on Capacity Tightness Through 2027

Goldman Sachs significantly lifted its price target for TSMC to $466 ADR, implying 46% upside, citing sustained capacity tightness and robust, AI-driven demand expected through 2027.

• Goldman forecasts strong revenue growth of 30% in 2026 and 28% in 2027, noting that 3nm and 5nm nodes remain fully loaded.
• The company recently began volume production of 2nm chips, strengthening its technological leadership.
• TSM shares rose 3% to $329.07 in early trading following the upgrade, while gross margins are expected to exceed 60% despite $150 billion in planned capital expenditure.