The Zacks Analyst Blog Highlights Taiwan Semiconductor Manufacturing, NVIDIA, Advanced Micro Devices, Apple and Intel

For Immediate Release

Chicago, IL – October 16, 2024 – Zacks.com publishes a list of stocks featured on the Analyst Blog. Every day Zacks Equity Research analysts discuss the latest news and events affecting the markets and financial markets. Stocks recently featured on the blog include: Taiwan Semiconductor Manufacturing Co. Ltd. TSM, NVIDIA Corp. NVDA, Advanced Micro Devices Inc. AMD, Apple Inc. AAPL and Intel Corp. INTC.

Here are some highlights from Tuesday’s Examiner Blog:

TSM’s Must-Buy Pre-Prize This Week

Taiwan Semiconductor Manufacturing Co. Ltd. has become the new poster boy for the global artificial intelligence (AI) frenzy. The company is the largest manufacturer of AI-based chipsets for the world’s leading manufacturers of AI chipsets.

TSM offers a wide range of wafer fabrication processes, including metal-oxide-semiconductor complementary logic fabrication processes, mixed signal, radio frequency, memory embedded, integrated CMOS signal and more.

Solid Q3 Outlook for TSM Stock

On October 9, Taiwan Semiconductor reported that its September revenue reached approximately $7.82 billion. Included in its August and July results, TSM is expected to report $23.6 billion in revenue for the third quarter of 2024.

If this number happens, it will exceed the current Zacks Consensus Estimate as well as the company’s guidance given in the second quarter 2024 earnings call. TSM said that the strong adoption of AI and smartphones has boosted the demand for its original technologies.

TSM has a strong clientele. The company is a major manufacturer of NVIDIA Group chipsets. NVIDIA is the world’s largest manufacturer of AI-based chips. TSM also helps to Advanced Micro Devices Inc., Apple Inc. andIntel Corp.to name a few.

Taiwan Semiconductor will report earnings results for the third quarter of 2024 on October 17, before the opening bell. The stock currently has a Zacks Rank #1 (Strong Buy). You can see a complete list of today’s Zacks #1 Rank products here.

Fixed Income Estimates for TSM Shares

For the third quarter of 2024, the Zacks Consensus Estimate currently shows revenue of $22.72 billion, suggesting a 31.5% year-over-year improvement and earnings per share (EPS) of $1.74, indicating ang appreciation of 34.9% year round. The company reported impressive earnings in the last four quarters which averaged 7.8%.

Additionally, TSM has seen positive earnings forecasts for the full year 2024 and full year 2025 over the past 60 days. Currently, the Zacks Consensus Estimate shows annual growth of 23.6% and 24.5%, respectively, for revenue and EPS in 2024.

Despite this solid growth, the current Zacks Consensus Estimate for full-year 2025 revenue and EPS for TSM shows an upside of 23.5% and 28.4%, respectively. In addition, TSM has a long-term (3-5 years) EPS growth rate of 26.5%, much higher than the broader market index, the S&P 500 growth rate of 13.6%.

TSM’s Stock Price Is Up Year To Date

Taiwan Semiconductor has strong demand for its advanced technologies, such as 3-nanometer (nm) and 5nm. Growing acceptance of its multi-purpose wafer service, which allows customers to reduce mask costs, is driving its customer momentum.

TSM’s growing efforts to ramp up 3nm production and 2nm development is a plus. Also, strengths across its 7nm, 16nm and 28nm technologies contribute well to its high-end growth. As a result, TSM’s stock price has risen by 84.8% year to date.

More left for TSM Shares

Taiwan Semiconductor is currently trading near its 52-week high. Despite this, the stock’s short-term average price represents a 7.3% increase from the last price of to close at $192.21. The target price to sell is now in the range of $170-$250. This shows a high of 30.1% and a low of 11.6%.

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