Morgan Stanley Bullish on TSMC (TSM) Ahead of Q2 Earnings

by MarketNewsData

Morgan Stanley is bullish on Taiwan Semiconductor (TSMC) heading into its Q2 earnings report on Thursday, July 17, before the market opens, citing strong AI demand and better-than-expected revenue.

🔍 Key Highlights

  • Q2 Revenue Beat:
    TSMC posted NT$933B in Q2 revenue — above expectations, signaling resilient demand.
  • Morgan Stanley View:
    • Reiterated Buy rating
    • Price Target: NT$1,288 (17% upside)
    • Forecasts 27% YoY revenue growth for FY2025
    • Expects full-year guidance raise during the earnings call
  • Growth Drivers:
    • Robust AI chip demand
    • Crypto mining demand offsets softness in 3nm PC chips
    • High fab utilization rates sustain momentum
  • Strategic Buffer:
    • The $165B U.S. fab investment may help cushion against tariffs and trade tensions
  • Sector Watch:
    TSMC’s results and outlook could shape sentiment across the semiconductor sector, especially amid margin pressures and valuation adjustments.

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