TSM To Announce Additional Fab Expansion Plans: Digitimes Asia
- Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) will shortly disclose plans to build additional 28nm, 12nm, and 16nm process fabrication lines at new fabs, in addition to its Nanjing fab expansion Digitimes Asia reports.
- Needham analyst Charles Shi initiated coverage on TSM with a Buy rating.
- The firm expects revenue CAGR of 15% despite industry downturn within two years. The introduction of the 3nm technology, which will be largely immune to the industry cyclicality, supports the growth thesis.
- TSM just reported a June revenue growth of 22.8% to NT$148.47 billion.
- Price action: TSM shares traded higher by 2.11% at $125.21 on the last check Tuesday.
Latest Ratings for TSM
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2022 | Atlantic Equities | Upgrades | Neutral | Overweight |
| Oct 2021 | Cowen & Co. | Initiates Coverage On | Market Perform | |
| Jul 2021 | Needham | Initiates Coverage On | Buy |
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