Citi analysts said in a research note, cited by Jinshi and relayed by ChainCatcher, that Taiwan Semiconductor Manufacturing Co. (TSMC) could keep revenue growth above 40% through 2027, supported by strong demand for AI computing power, the potential expansion of AI agents, and the rise of the co-packaged optics networking cycle. The analysts added that growth among major AI chip customers, including NVIDIA, Advanced Micro Devices (AMD), and Broadcom, is expected to accelerate, which could push TSMC’s AI-related revenue growth close to doubling next year. Citi said that outlook may lead the market to keep lifting its earnings expectations for the chipmaker. The bank also said TSMC’s capital expenditure could rise to $81 billion in 2027 and $90 billion in 2028 on the back of its revenue outlook. Citi maintained its buy rating on the stock and raised its target price from NT$3,800 to NT$4,000.
Citi analysts said in a research note, according to Jinshi and relayed by ChainCatcher, that Taiwan Semiconductor Manufacturing Co. (TSMC) could maintain revenue growth above 40% through 2027. The note linked that view to strong demand for AI computing power, the potential growth runway for AI agents, and the emergence of a co-packaged optics networking cycle.
Citi said growth is expected to accelerate among most of TSMC’s AI chip customers, including NVIDIA, Advanced Micro Devices (AMD), and Broadcom. On that basis, the bank said TSMC’s AI-related revenue growth next year could come close to doubling, and that the market may continue raising its earnings expectations for the company.
The report also said TSMC’s capital expenditure could increase further to $81 billion in 2027 and $90 billion in 2028, supported by its strong revenue outlook. Citi maintained a buy rating on TSMC and raised its target price from NT$3,800 to NT$4,000.
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