--- title: "TSMC expects revenue to grow by more than 30% in 2026, UBS significantly raises target prices for NAURA, AMEC, and others; the semiconductor equipment ETF E Fund (159558) has seen a net inflow of over 780 million in the past 20 days" type: "News" locale: "en" url: "https://longbridge.com/en/news/288797436.md" description: "TSMC expects revenue growth of over 30% in 2026. UBS significantly raised the target prices for NAURA, AMEC, and others, and upgraded the forecast for equipment spending by Chinese wafer fabs, optimistic about the growth of domestic equipment orders. The semiconductor equipment ETF E Fund CSI Semiconductor Material & Equipment Thematic ETF has seen a net inflow of over 780 million in the past 20 days. The CSI Semiconductor Material & Equipment Thematic Index has risen 148.1% in the past year, but most weighted stocks fell on that day" datetime: "2026-06-05T02:30:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288797436.md) - [en](https://longbridge.com/en/news/288797436.md) - [zh-HK](https://longbridge.com/zh-HK/news/288797436.md) --- # TSMC expects revenue to grow by more than 30% in 2026, UBS significantly raises target prices for NAURA, AMEC, and others; the semiconductor equipment ETF E Fund (159558) has seen a net inflow of over 780 million in the past 20 days As of 9:59, the CSI Semiconductor Material & Equipment Thematic Index (931743) fell by 1.05%; among the top ten weighted stocks, AMEC fell by 1.73%, NAURA fell by 1.96%, Tuojing Technology fell by 2.08%, Changchuan Technology fell by 4.51%, Huahai Qingshi fell by 0.11%, Shanghai Silicon Industry rose by 0.62%, Zhongke Feicai fell by 1.19%, Nanjing University of Posts and Telecommunications rose by 4.91%, Jiangfeng Electronics fell by 2.29%, and Anji Technology fell by 1.27%; the index has risen 148.1% over the past year. The semiconductor equipment ETF E Fund (159558) tracks the CSI Semiconductor Material & Equipment Thematic Index, with a net inflow of over 780 million in the past 20 days. In terms of news, the CEO of TSMC stated at the annual shareholder meeting that the company is confident in growth over the next few years, thanks to strong global demand for computing power and advanced semiconductor products. It is expected that revenue growth for the entire year will exceed 30% when calculated in US dollars. International top investment bank UBS released its latest research report on June 2, significantly raising the target prices for NAURA, AMEC, and Shengmei Shanghai by 34%-48%. At the same time, it raised the year-on-year growth forecast for China's wafer fab equipment spending in 2027/2028 from +6%/+1% to +18%/+14%, based on three main factors: significant improvement in profitability and free cash flow for Changxin and Yangtze Memory, enhancing the sustainability of future capital expenditures; the DRAM/NAND upcycle is expected to continue until Q2 2028/Q1 2027, with domestic memory manufacturers potentially expanding capacity to 120,000/200,000 wafers per month in 2026/2027; and optimistic guidance on order demand from NAURA and AMEC. UBS expects the share of domestic equipment in Changxin's orders to rise to 40%-50%, while the share in Yangtze Memory's orders has reached 50%, bringing an annual revenue increase of $6-13 billion for domestic equipment from 2026 to 2028. Zhongshan Securities' research report points out that in the past, the AI chip sector's market performance often relied more on "AI exceeding expectations," "domestic substitution expectations," and valuation expansion. However, an important change this year is that the industry chain has begun to show clearer signals of profit realization, with revenue, gross margin, and net profit starting to reflect at the company level. In other words, the core of market trading is shifting from "future potential" to "real profits." The semiconductor equipment ETF E Fund (159558) closely tracks the CSI Semiconductor Material & Equipment Thematic Index, which focuses on the semiconductor equipment and semiconductor materials sectors. According to the Shenwan three-level industry classification, the index has over 60% weight in semiconductor equipment, demonstrating strong resilience amid the trend of domestic substitution. The top ten weighted stocks include AMEC, NAURA, Tuojing Technology, Changchuan Technology, Huahai Qingshi, and others. E Fund is a leading comprehensive asset management institution in China, with over 20 years of professional experience in index investment. The index product line comprehensively covers mainstream broad-based indices, involving multiple industry indices, and spans cross-border and cross-market indices, reaching over 10 global exchanges. The professional index research and investment team has rich experience in product design and investment management. The Semiconductor Equipment ETF E Fund (159558) provides an efficient tool for one-click allocation in this high-growth sector, capturing industry trend dividends amidst volatility. 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