---
title: "Morgan Stanley: Taiwan Semiconductor may maintain revenue growth momentum in the next five years"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/216297686.md"
description: "Morgan Stanley analysts predict that Taiwan Semiconductor may achieve a compound annual revenue growth rate of 15%-20% in the next five years, driven mainly by the demand for AI chips and outsourcing by integrated device manufacturers. It is expected that TSMC's gross margin will slightly increase from 55% in the third quarter to 55.5% in the fourth quarter. After successfully raising wafer prices, it is projected that the gross margin will be maintained at around 55% in 2025 and beyond, with price increases averaging 4%-5%"
datetime: "2024-10-09T07:59:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216297686.md)
  - [en](https://longbridge.com/en/news/216297686.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216297686.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/216297686.md) | [繁體中文](https://longbridge.com/zh-HK/news/216297686.md)


# Morgan Stanley: Taiwan Semiconductor may maintain revenue growth momentum in the next five years

Morgan Stanley analysts stated in a research report that driven by the demand for artificial intelligence chips and the outsourcing of integrated device manufacturers, Taiwan Semiconductor may continue to achieve a compound annual revenue growth rate of 15%-20% over the next five years. They mentioned that with strong demand for artificial intelligence chips and further increase in production of Apple's 3-nanometer chips, Taiwan Semiconductor's gross margin may slightly increase from 55% in the third quarter to 55.5% in the fourth quarter. They indicated that Taiwan Semiconductor is expected to maintain a gross margin of around 55% in 2025 and beyond after successfully raising wafer prices, with the adjustment taking effect next year. They added that considering the expected price increase of at least 10% for artificial intelligence chips, 6% for other high-performance computing chips, and 3% for smartphone chips, the average price increase in 2025 may be around 4%-5%, leading to a 2-3 percentage point increase in gross margin

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