---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000801356.md"
description: "The theme for "punishment" (aka excuse for profit taking) this year for the AI trade is consistent - concerns on ROI of capex. In this case TSMC is up nearly 40% YTD and institution players may simply used the capex headline as an excuse to lock in gains. Fact is that TSMC builds capacity against pre-paid customer (APPL, NVDA, AMD) commitments. With full-year revenue outlook raised from "above 30%" to 40%+ (abv Wall St consensus of 35%) and demand structurally locked in through 2030 due to emergence of agentic AI."
datetime: "2026-07-17T05:42:47.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000801356.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000801356.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000801356.md)
author: "[LazyCat](https://longbridge.com/en/profiles/16872684.md)"
generator: "portal-rs"
---

# The theme for "punishment" (aka excuse for…


### Related Stocks

- [TSM.US](https://longbridge.com/en/quote/TSM.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [AMD.US](https://longbridge.com/en/quote/AMD.US.md)
- [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**