Needham Raises TSMC (TSM) Price Target to $270 on AI Optimism

by MarketNewsData

Needham analyst Charles Shi raised his price target on Taiwan Semiconductor (TSM) to $270 from $225 on July 15, reiterating a Strong Buy rating. The upgrade reflects growing confidence in the company’s AI chip leadership and long-term demand outlook.

  • Shi expects AI-related revenue to jump from $26B in 2025 to $46B by 2027, with TSM positioned as a key beneficiary.
  • The firm cited structural advantages in TSM’s advanced packaging and N3 process as tailwinds for sustained growth.
  • Shares rose over 3% the following day in response to the bullish call.

Needham’s target implies ~14% upside from recent levels. The move comes just ahead of TSM’s Q2 earnings, scheduled for Thursday, July 17, where investors will be watching for updates on capex, guidance, and AI-related orders.

TSM is up over 70% year-to-date, fueled by AI momentum and strong demand for advanced nodes.

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