TSMC's Q1 revenue surged 45.2% year-on-year, setting a new historical record

TSMC's revenue for the first quarter of 2026 was NT$ 415.191 billion, a year-on-year increase of 45.2%, setting a new historical high. The cumulative revenue from January to March was approximately NT$ 1,134.103 billion, a year-on-year increase of 35.1%. The gross margin is expected to be between 63% and 65%, and the operating margin is expected to be between 54% and 56%. Foreign institutions are generally optimistic about TSMC, with Morgan Stanley predicting a year-on-year revenue growth of 5-10% for the second quarter of 2026. Several institutions have raised their target prices, with JP Morgan's target price at NT$ 2,400, Citigroup at NT$ 2,800, Goldman Sachs at NT$ 2,750, and Crédit Lyonnais seeing it at NT$ 3,030