TAIPEI (TVBS News) — Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) on Friday (Oct. 18) achieved a record stock price of NT$1,100, marking a NT$65 increase and surpassing its previous high of NT$1,080. The company's market value soared to a historic NT$28.5 trillion. Foreign investors remain optimistic about TSMC's future, setting a target price of NT$1,600.
TSMC on Thursday released its third-quarter financial report, exceeding market expectations. The company reported a net profit of approximately NT$325.26 billion, reflecting a 31.2% quarterly increase and a 54.2% annual rise. Gross margin reached 57.8%, and operating profit margin stood at 47.5%, both achieving the highest levels in seven quarters. Earnings per share hit NT$12.54, setting a new quarterly profit record.
The company forecasts fourth-quarter revenue between US$26.1 billion and US$26.9 billion, representing an 11.06% to 14.46% quarterly increase. Gross margins are expected to reach 57% to 59%, with revenue and profit continuing to hit new highs. TSMC has revised its annual revenue growth forecast upward for the second time, projecting an annual increase of nearly 30% in U.S. dollar terms.
Chairman and CEO C.C. Wei (魏哲家) stated on Thursday that "AI is Real" and not a bubble, noting that demand is just beginning. He predicted healthy growth in 2025 and over the next five years. Server AI processors are expected to more than double their revenue contribution this year, accounting for about 15% of TSMC's 2024 revenue.