Citi increased its price target for Taiwan Semiconductor Manufacturing Company (TSMC) to NT$3,800. The firm placed the stock on a 30-day upside catalyst watch.
Analysts expect TSMC to raise its 2026 revenue growth guidance during the July 16 analyst meeting. The company is also projected to upgrade its long-term financial outlook at the event.
Robust demand for advanced artificial intelligence chips drives the positive revision. This demand extends beyond AI GPUs to include custom accelerators, CPUs, and networking processors.
The broad-based interest in AI hardware is expected to bolster TSMC’s advanced packaging business. TSMC shares rose in Taipei trading following the bullish report.