<p><strong>台积电</strong>(TSM 0.75%) 的股票在过去三个月中大幅上涨，在此期间实现了 37% 的显著涨幅，并且有很大机会在七月份达到新高。</p>
<p>在最近的激增后，台积电的股票目前交易于其 52 周区间的高端。公司预计将在 7 月 17 日发布第二季度财报，发布结果后有很大机会达到新的 52 周高点。</p>
<p>让我们来看一下可能导致这种情况发生的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM0NjgvYXJyb3ctc3ltYm9sLWdyYXNzLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="524" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM0NjgvYXJyb3ctc3ltYm9sLWdyYXNzLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>台积电不断提升的代工市场份额预示着又一个稳健的季度</h2>
<p>台积电是全球最大的半导体代工厂，随着每个季度的推移，公司在这一市场的主导地位愈发明显。根据市场研究公司 TrendForce 的数据，台积电在 2025 年第一季度的全球代工市场份额增加到近 68%。与去年同期相比，提升了六个百分点。</p>
<p>有很大机会台积电在今年第二季度的代工市场份额继续增长，这从公司每月的收入数据中可见一斑。台积电 4 月份的收入同比激增 48%，而 5 月份的收入也增长了近 40%。共识预期台积电第一季度的收入将比去年同期增长 37%。</p>
<p>公司在季度前几个月的收入增长表明，发布财报时可能会超出分析师的预期。这并不令人惊讶，因为台积电管理层最近指出，针对其为多家芯片制造商（如 <strong>英伟达</strong>、<strong>AMD</strong>、<strong>博通</strong>、<strong>Marvell Technology</strong> 等）生产的人工智能（AI）芯片的需求已经超过了供应。</p>
<p>因此，台积电正在积极建设更多的制造厂，以便能够利用对 AI 芯片日益增长的需求。公司计划在 2025 年建设九个新的生产设施。这并不令人意外，因为它正在看到来自 <strong>英伟达</strong> 和 <strong>苹果</strong> 等公司的先进芯片订单激增，这些公司正在排队等待台积电的设施来制造 AI 芯片。</p>
<p>因此，产能的增加和对其芯片的强劲需求的结合，可能足以让台积电在本月发布财报时超出华尔街对第二季度的预期。此外，台积电据报道正在提高其当前和下一代工艺节点的价格。因此，公司未来的利润率可能会继续改善，从而推动其盈利的强劲增长。</p>
<p>客户愿意为台积电制造的芯片支付溢价的一个重要原因是，台积电在技术上的优势使其能够生产出不仅更强大而且更节能的芯片。这就是台积电预计第二季度运营利润率为 48% 的原因，这将比去年同期的 42.5% 大幅提升。</p>
<p>不出所料，分析师预计台积电本季度的每股收益将跃升 54%，达到 2.28 美元。然而，由于上述因素以及价格上涨，强劲的出货量可能为台积电的季度盈利带来更强劲的增长。</p>
<p>此外，持续强劲的 AI 芯片需求，从一些台积电客户最近发布的季度业绩中可以看出，这些业绩表明其在当前季度的 AI 相关增长加速，这表明其前景也可能稳健。所有这些都可能为台积电股票带来更多上涨空间，这就是为什么在即将发布的季度报告之前购买它是个好主意，考虑到其极具吸引力的估值。</p>
<h2>现在购买这只股票的最简单理由</h2>
<p>考虑到台积电即将在几周内发布的稳健报告，以及其在长期内维持高增长水平的能力，现在购买这只股票是个明智的选择。毕竟，台积电的交易市盈率仅为 27 倍，低于科技股密集的纳斯达克 100 指数的 32 倍市盈率。</p>
<p>24 倍的前瞻市盈率更具吸引力，尤其是考虑到其净利润增长率预计在未来也将加速。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/690c6602cb1aa2dee96680b22438ce58.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="380" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/690c6602cb1aa2dee96680b22438ce58.png"/></p>
<p>TSM 当前财年每股收益预估数据来自 YCharts。</p>
<p>因此，投资者可以考虑在其季度报告发布前购买这只 AI 股票，因为强于预期的业绩和前景可能会帮助台积电跃升至新高。</p>

台积电

半导体 3 倍做多 - Direxion

<p>台积电（TSMC）股票在过去三个月上涨了 37%，预计在七月将达到新高，这得益于对人工智能芯片的强劲需求和市场份额的增加。台积电的收入增长，四月和五月的同比增幅分别为 48% 和 40%，这表明其可能超出第二季度的盈利预期。分析师预测每股收益将增加 54%，达到 2.28 美元，这得益于价格上涨和利润率改善。由于台积电的估值具有吸引力，建议在其季度报告发布前进行买入</p>

<p><strong>Taiwan Semiconductor Manufacturing</strong>(TSM 0.75%) stock has jumped sharply in the past three months, clocking impressive gains of 37% during this period, and there is a good chance that the foundry giant will jump to new highs in July.</p>
<div class="lb-trans"><p><strong>台积电</strong>(TSM 0.75%) 的股票在过去三个月中大幅上涨，在此期间实现了 37% 的显著涨幅，并且有很大机会在七月份达到新高。</p>
</div><p>TSMC stock is currently trading at the higher end of its 52-week range following its recent surge. The company is expected to release its second-quarter results on July 17, and there is a good chance that it could hit new 52-week highs after it releases its results.</p>
<div class="lb-trans"><p>在最近的激增后，台积电的股票目前交易于其 52 周区间的高端。公司预计将在 7 月 17 日发布第二季度财报，发布结果后有很大机会达到新的 52 周高点。</p>
</div><p>Let's look at the reasons why that may happen.</p>
<div class="lb-trans"><p>让我们来看一下可能导致这种情况发生的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM0NjgvYXJyb3ctc3ltYm9sLWdyYXNzLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F823468%2Farrow-symbol-grass.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>TSMC's improving foundry market share points toward another solid quarter</h2>
<div class="lb-trans"><h2>台积电不断提升的代工市场份额预示着又一个稳健的季度</h2>
</div><p>TSMC is the world's largest semiconductor foundry, and the company is becoming more dominant in this market with each passing quarter. According to market research firm TrendForce, TSMC's share of the global foundry market increased to almost 68% in the first quarter of 2025. That's an improvement of six percentage points when compared to the year-ago period.</p>
<div class="lb-trans"><p>台积电是全球最大的半导体代工厂，随着每个季度的推移，公司在这一市场的主导地位愈发明显。根据市场研究公司 TrendForce 的数据，台积电在 2025 年第一季度的全球代工市场份额增加到近 68%。与去年同期相比，提升了六个百分点。</p>
</div><p>There is a good chance that TSMC's foundry market share gains continued in the year's Q2, as evident by the terrific increase in the company's monthly revenue figures. TSMC's April revenue shot up an impressive 48% year over year, while its May revenue was up by almost 40%. Consensus estimates are projecting TSMC's Q1 revenue to increase by 37% from the year-ago period.</p>
<div class="lb-trans"><p>有很大机会台积电在今年第二季度的代工市场份额继续增长，这从公司每月的收入数据中可见一斑。台积电 4 月份的收入同比激增 48%，而 5 月份的收入也增长了近 40%。共识预期台积电第一季度的收入将比去年同期增长 37%。</p>
</div><p>The company's revenue growth in the first couple of months of the quarter suggests that it could end up exceeding analysts' expectations when it releases its results. That won't be surprising as TSMC management recently pointed out that the demand for the artificial intelligence (AI) chips that it manufactures for multiple chipmakers such as <strong>Nvidia</strong>, <strong>AMD</strong>, <strong>Broadcom</strong>, <strong>Marvell Technology</strong>, and others has been outpacing supply.</p>
<div class="lb-trans"><p>公司在季度前几个月的收入增长表明，发布财报时可能会超出分析师的预期。这并不令人惊讶，因为台积电管理层最近指出，针对其为多家芯片制造商（如 <strong>英伟达</strong>、<strong>AMD</strong>、<strong>博通</strong>、<strong>Marvell Technology</strong> 等）生产的人工智能（AI）芯片的需求已经超过了供应。</p>
</div><p>As a result, TSMC has been aggressively building more fabrication plants so that it can capitalize on the booming demand for AI chips. The company is on track to construct nine new production facilities in 2025. That's not surprising as it is witnessing a surge in orders for advanced chips from the likes of Nvidia and <strong>Apple</strong>, which are queueing up to tap TSMC's facilities to fabricate AI chips.</p>
<div class="lb-trans"><p>因此，台积电正在积极建设更多的制造厂，以便能够利用对 AI 芯片日益增长的需求。公司计划在 2025 年建设九个新的生产设施。这并不令人意外，因为它正在看到来自 <strong>英伟达</strong> 和 <strong>苹果</strong> 等公司的先进芯片订单激增，这些公司正在排队等待台积电的设施来制造 AI 芯片。</p>
</div><p>So, this combination of an increase in capacity and stronger demand for its chips could be enough for TSMC to exceed Wall Street's Q2 expectations when it releases its results this month. What's more, TSMC is reportedly increasing the prices of its current and next-generation process nodes. So there is a good chance that the company's margin profile could continue to improve going forward and lead to stronger growth in its earnings.</p>
<div class="lb-trans"><p>因此，产能的增加和对其芯片的强劲需求的结合，可能足以让台积电在本月发布财报时超出华尔街对第二季度的预期。此外，台积电据报道正在提高其当前和下一代工艺节点的价格。因此，公司未来的利润率可能会继续改善，从而推动其盈利的强劲增长。</p>
</div><p>A big reason why customers can be expected to pay a premium for the chips fabricated by TSMC is because of the technology advantage it enjoys over rivals, which enables the company to produce chips that are not only more powerful but also power efficient. That's the reason why TSMC is forecasting an operating margin of 48% for Q2, which would be a big jump over the year-ago period's reading of 42.5%.</p>
<div class="lb-trans"><p>客户愿意为台积电制造的芯片支付溢价的一个重要原因是，台积电在技术上的优势使其能够生产出不仅更强大而且更节能的芯片。这就是台积电预计第二季度运营利润率为 48% 的原因，这将比去年同期的 42.5% 大幅提升。</p>
</div><p>Not surprisingly, analysts are expecting TSMC's earnings to jump by 54% in the current quarter to $2.28 per share. However, stronger volume shipments thanks to the factors discussed above, as well as the price hikes, could pave the way for a stronger jump in TSMC's quarterly earnings.</p>
<div class="lb-trans"><p>不出所料，分析师预计台积电本季度的每股收益将跃升 54%，达到 2.28 美元。然而，由于上述因素以及价格上涨，强劲的出货量可能为台积电的季度盈利带来更强劲的增长。</p>
</div><p>Moreover, the persistently strong demand for AI chips, which is evident from the recent quarterly results posted by some of TSMC's customers that point toward an acceleration in their AI-related growth in the current quarter, is an indication that its outlook could also be solid. All this could pave the way for more upside in TSMC stock, which is why it would be a good idea to buy it before its upcoming quarterly report when we take into account its incredibly attractive valuation.</p>
<div class="lb-trans"><p>此外，持续强劲的 AI 芯片需求，从一些台积电客户最近发布的季度业绩中可以看出，这些业绩表明其在当前季度的 AI 相关增长加速，这表明其前景也可能稳健。所有这些都可能为台积电股票带来更多上涨空间，这就是为什么在即将发布的季度报告之前购买它是个好主意，考虑到其极具吸引力的估值。</p>
</div><h2>The simplest reason to buy this stock right now</h2>
<div class="lb-trans"><h2>现在购买这只股票的最简单理由</h2>
</div><p>When we consider the solid report that TSMC is on track to deliver in a few weeks, and importantly, its ability to sustain elevated growth levels over the long run, buying the stock right now is a no-brainer. After all, TSMC is trading at just 27 times sales, which is a discount to the tech-laden Nasdaq-100 index's price-to-earnings ratio of 32.</p>
<div class="lb-trans"><p>考虑到台积电即将在几周内发布的稳健报告，以及其在长期内维持高增长水平的能力，现在购买这只股票是个明智的选择。毕竟，台积电的交易市盈率仅为 27 倍，低于科技股密集的纳斯达克 100 指数的 32 倍市盈率。</p>
</div><p>The forward earnings multiple of 24 is even more attractive, especially considering that its bottom-line growth rate is expected to accelerate in the future as well.</p>
<div class="lb-trans"><p>24 倍的前瞻市盈率更具吸引力，尤其是考虑到其净利润增长率预计在未来也将加速。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/690c6602cb1aa2dee96680b22438ce58.png" alt="" original-src="https://media.ycharts.com/charts/690c6602cb1aa2dee96680b22438ce58.png"/></p>
<p>TSM EPS Estimates for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>TSM 当前财年每股收益预估数据来自 YCharts。</p>
</div><p>So, investors can consider buying this AI stock going into its quarterly report as stronger-than-expected results and outlook are likely to help TSMC jump to new highs.</p>
<div class="lb-trans"><p>因此，投资者可以考虑在其季度报告发布前购买这只 AI 股票，因为强于预期的业绩和前景可能会帮助台积电跃升至新高。</p>
</div>

Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Skyrocket to New Highs in July

- 台积电股价在过去三个月上涨了 37%。
- 公司预计在 7 月 17 日发布第二季度财报，市场预期将超出预期。
- 台积电的市场份额和 AI 芯片需求持续增长，推动盈利能力提升。

预测：这只杰出的人工智能（AI）股票将在七月达到新的高点