TSMC stock target raised by analysts due to expected dominance in AI market

From Investing.com: 2024-04-02 09:57:24

Analysts at Bank of America raise price target on TSMC stock by $120, citing its crucial role in AI. JPMorgan forecasts TSMC to dominate AI processor market with over 90% market share in next few years, revenue from AI expected to grow from 6% in 2023 to 27% by 2027. Susquehanna and Barclays analysts also increase price targets on TSMC stock, expecting significant upside. Lynx Equity Strategies raises price target on Taipei-listed TSMC stock, predicting faster production ramp-up for 3nm technology compared to 5nm. Analysts anticipate expanded customer base at 3nm, with potential lead customer for 2nm being Apple.



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