Nomura raises the target price of TSMC shares to 2135 TWD, forecasting a revenue growth of 25-30%.

SelfCustodyIssues · 2026-03-12T03:03:09+00:00

Nomura raised its target price for TSMC (2330) shares to TWD 2,135, citing chip shortages and the growth expectations from AI sectors. Analysts predict significant revenue growth and improved profit margins due to increased production capacity and demand.

SelfCustodyIssues

2026-03-12 03:03:09

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Nomura, one of the leading brokerage firms, has set a new target price for TSMC (2330) shares at NT$2,135, raising the previous forecast by NT$280. The increase is based on factors related to chip shortages in the market and rising investor expectations for Asian companies involved in artificial intelligence and semiconductor sectors.

Factors Supporting the Rise in TSMC (2330) Stock Price Amid Market Conditions

Nomura analysts indicate that limited production capacity is a key factor supporting the increase in TSMC’s (2330) value. With cautious plans to expand manufacturing capabilities, the Taiwanese company will be able to fully capitalize on growth potential driven by AI sector leaders like Nvidia and Broadcom. Assuming strong demand growth, TSMC’s revenue is expected to increase by 25 to 30 percent this year in US dollars, a significant rise compared to previous years.

TSMC (2330) Capital Expenditure Outlook for 2026-2027

The bank maintains its investment forecast for 2026 at $45-50 billion. However, considering limited cleanroom capacity in 2026, capital expenditure is expected to accelerate in 2027 to $58-60 billion. This three-year investment path reflects the company’s ability to absorb increasing market demand and maintain its leadership position in advanced chip manufacturing.

Mid-term Gross Margin Outlook for TSMC (2330)

Nomura predicts that as capacity utilization improves, product portfolio optimization (particularly increasing the share of HPC solutions), and urgent customer orders come in, TSMC’s (2330) gross margin could reach 61.5 percent in 2026-2027. This optimistic scenario reflects the company’s competitive advantage resulting from advanced manufacturing technologies.

Nomura has raised earnings per share forecasts for this year and next by 15 and 19 percent respectively, while maintaining a “buy” recommendation for TSMC (2330). The valuation change reflects analysts’ growing confidence in the company’s ability to sustain growth amid global supply shortages.

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