<p><strong>台积电</strong>（TSM 1.66%）凭借其作为全球最大半导体代工厂的地位，成为人工智能（AI）芯片热潮的中心。该公司，通常被称为 TSMC，在 7 月 17 日公布了第二季度的业绩，提醒市场为什么它是抓住 AI 半导体需求增长的最佳方式之一。</p>
<p>所有主要芯片公司，如 <strong>博通</strong>、<strong>美满</strong>、<strong>英伟达</strong>、<strong>超威</strong> 和 <strong>英特尔</strong>，都在使用 TSMC 的制造厂来生产他们的 AI 芯片。此外，进入 AI 智能手机的芯片也在 TSMC 的设施中制造，因为它还将 <strong>高通</strong> 和 <strong>苹果</strong> 等公司视为客户。</p>
<p>这一世界级的客户基础和 AI 芯片市场的长期增长使得 TSMC 能够交出出色的第二季度业绩，并提升了其全年指引。仔细看看最新的数据，你会发现现在对于投资者来说，购买这只热门 AI 股票仍然为时不晚。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4NjIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2Utd3JpdHRlbi1vbi1hLXByb2Nlc3Nvci5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4NjIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2Utd3JpdHRlbi1vbi1hLXByb2Nlc3Nvci5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>TSMC 的 AI 驱动增长将持续</h2>
<p>TSMC 报告称，其第二季度收入同比增长 44%，达到 301 亿美元，超出其指引范围的高端。同时，该公司的调整后每股收益以 61% 的更快速度飙升，证明了其强大的定价能力。</p>
<p>TSMC 控制着全球半导体代工市场的 68%，远远领先于其最近的竞争对手三星，后者的市场份额仅略低于 8%。该公司能够在竞争中建立如此巨大的差距，得益于其工艺节点的技术领先。因此，TSMC 有能力提高其服务的价格，这也解释了为什么其毛利率在上个季度同比增长了超过五个百分点。</p>
<p>重要的是，TSMC 现在预计其全年收入将在 2025 年增长 30%，高于之前预计的中 20% 的增长。但 TSMC 可能会在年底实现更大的收入增长，因为它在 2025 年上半年已经实现了 40% 的同比增长，并预计在当前季度（在指引的中点）收入将激增 38%。</p>
<p>值得注意的是，TSMC 表示其指引考虑了关税对其业务的潜在影响。即便如此，该公司仍然提高了其全年展望，看到 2025 年结束时收入和收益出现超出预期的增长也并不令人惊讶。事实上，考虑到 AI 带来的长期增长机会，TSMC 的快速增长似乎在可预见的未来是可持续的。</p>
<p>TSMC 所服务的各种以 AI 为中心的终端市场在未来五年内有望显著增长。例如，根据咨询公司麦肯锡的预测，AI 芯片和计算硬件的投资到 2030 年可能超过 3 万亿美元。</p>
<p>毫不奇怪，分析师们也在提高对该公司 2027 年前收益的预期。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/47d396d673a00c81ec973336cedf61b1.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/47d396d673a00c81ec973336cedf61b1.png"/></p>
<p>数据来源：YCharts。</p>
<h2>股票具备更大上涨空间</h2>
<p>TSMC 的股票在过去三个月中上涨了令人印象深刻的 59%。即便如此，它的交易市盈率为 28 倍，而科技股密集的 <strong>纳斯达克 100</strong> 指数的平均市盈率超过 32 倍。24 倍的前瞻市盈率更具吸引力，进一步表明该公司持续的盈利增长。</p>
<p>希望在投资组合中增加 AI 股票的投资者应考虑将 TSMC 作为首选。尽管每个季度的表现都非常出色，但它仍有上涨空间，并且交易价格低于更广泛的科技行业。</p>

台积电

半导体 3 倍做多 - Direxion

<p>台湾半导体制造公司（TSMC）被认为是领先的人工智能芯片股票，第二季度报告的收入同比增长 44%，达到 301 亿美元。TSMC 在全球半导体代工市场占有 68% 的份额，预计 2025 年收入将增长 30%。该公司已上调全年指引，预计受益于蓬勃发展的人工智能市场，将继续保持强劲表现。TSMC 的股票在三个月内上涨了 59%，目前的市盈率具有吸引力，成为希望利用人工智能增长机会的投资者推荐购买的对象</p>

<p><strong>Taiwan Semiconductor Manufacturing</strong>(TSM 1.66%) has been at the center of the artificial intelligence (AI) chip boom by virtue of its status as the world's largest semiconductor foundry. The company, commonly known as TSMC, reported second quarter results on July 17, only to remind the market why it is one of the best ways to capitalize on the growth in AI semiconductor demand.</p>
<div class="lb-trans"><p><strong>台积电</strong>（TSM 1.66%）凭借其作为全球最大半导体代工厂的地位，成为人工智能（AI）芯片热潮的中心。该公司，通常被称为 TSMC，在 7 月 17 日公布了第二季度的业绩，提醒市场为什么它是抓住 AI 半导体需求增长的最佳方式之一。</p>
</div><p>All the major chip companies, such as <strong>Broadcom</strong>, <strong>Marvell</strong>, <strong>Nvidia</strong>, <strong>AMD</strong>, and <strong>Intel</strong>, have been using TSMC's fabrication plants to manufacture their AI chips. Moreover, the chips that go into AI-enabled smartphones are manufactured at TSMC's facilities since it counts the likes of <strong>Qualcomm</strong> and <strong>Apple</strong> as customers too.</p>
<div class="lb-trans"><p>所有主要芯片公司，如 <strong>博通</strong>、<strong>美满</strong>、<strong>英伟达</strong>、<strong>超威</strong> 和 <strong>英特尔</strong>，都在使用 TSMC 的制造厂来生产他们的 AI 芯片。此外，进入 AI 智能手机的芯片也在 TSMC 的设施中制造，因为它还将 <strong>高通</strong> 和 <strong>苹果</strong> 等公司视为客户。</p>
</div><p>This world-class client base and the secular growth of the AI chip market allowed TSMC to deliver outstanding Q2 results and boost its full-year guidance as well. Take a closer look at the latest numbers, and you'll see why it's not too late for investors to buy this hot AI stock.</p>
<div class="lb-trans"><p>这一世界级的客户基础和 AI 芯片市场的长期增长使得 TSMC 能够交出出色的第二季度业绩，并提升了其全年指引。仔细看看最新的数据，你会发现现在对于投资者来说，购买这只热门 AI 股票仍然为时不晚。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4NjIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2Utd3JpdHRlbi1vbi1hLXByb2Nlc3Nvci5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825862%2Fartificial-intelligence-written-on-a-processor.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 AI-fueled growth is here to stay</h2>
<div class="lb-trans"><h2>TSMC 的 AI 驱动增长将持续</h2>
</div><p>TSMC reported an impressive 44% year-over-year increase in its Q2 revenue to $30.1 billion, exceeding the high end of its guidance range. Meanwhile, the company's adjusted earnings per share shot up at a much faster pace of 61%, a testament to its solid pricing power.</p>
<div class="lb-trans"><p>TSMC 报告称，其第二季度收入同比增长 44%，达到 301 亿美元，超出其指引范围的高端。同时，该公司的调整后每股收益以 61% 的更快速度飙升，证明了其强大的定价能力。</p>
</div><p>TSMC controls 68% of the global semiconductor foundry market, well ahead of its closest rival, Samsung, which has a market share of just under 8%. The company has managed to build such a huge gap over the competition thanks to the technological lead of its process nodes. As a result, TSMC has the ability to raise the prices of its services, and that explains why its gross margin increased by more than five percentage points last quarter from the prior-year period.</p>
<div class="lb-trans"><p>TSMC 控制着全球半导体代工市场的 68%，远远领先于其最近的竞争对手三星，后者的市场份额仅略低于 8%。该公司能够在竞争中建立如此巨大的差距，得益于其工艺节点的技术领先。因此，TSMC 有能力提高其服务的价格，这也解释了为什么其毛利率在上个季度同比增长了超过五个百分点。</p>
</div><p>Importantly, TSMC is now anticipating its full-year revenue will grow 30% in 2025, up from its earlier estimate of mid-20% growth. But TSMC could end the year with an even bigger top-line jump as it has already achieved 40% year-over-year growth in the first half of 2025, and it is expecting a 38% spike in revenue in the current quarter (at the midpoint of guidance).</p>
<div class="lb-trans"><p>重要的是，TSMC 现在预计其全年收入将在 2025 年增长 30%，高于之前预计的中 20% 的增长。但 TSMC 可能会在年底实现更大的收入增长，因为它在 2025 年上半年已经实现了 40% 的同比增长，并预计在当前季度（在指引的中点）收入将激增 38%。</p>
</div><p>What's worth noting here is that TSMC says its guidance takes into account the potential impact of tariffs on its business. Even then, the company has raised its full-year outlook, and it won't be surprising to see it end 2025 with a bigger-than-expected jump in revenue and earnings. In fact, TSMC's red-hot growth seems sustainable for a long time to come, considering the secular growth opportunity presented by AI.</p>
<div class="lb-trans"><p>值得注意的是，TSMC 表示其指引考虑了关税对其业务的潜在影响。即便如此，该公司仍然提高了其全年展望，看到 2025 年结束时收入和收益出现超出预期的增长也并不令人惊讶。事实上，考虑到 AI 带来的长期增长机会，TSMC 的快速增长似乎在可预见的未来是可持续的。</p>
</div><p>The various AI-focused end-markets that TSMC serves are on track to boom remarkably in the next five years. For instance, the investment in AI chips and computing hardware could exceed a whopping $3 trillion by 2030, according to the consulting firm McKinsey.</p>
<div class="lb-trans"><p>TSMC 所服务的各种以 AI 为中心的终端市场在未来五年内有望显著增长。例如，根据咨询公司麦肯锡的预测，AI 芯片和计算硬件的投资到 2030 年可能超过 3 万亿美元。</p>
</div><p>Not surprisingly, analysts are also increasing their estimates for the company's earnings through 2027.</p>
<div class="lb-trans"><p>毫不奇怪，分析师们也在提高对该公司 2027 年前收益的预期。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/47d396d673a00c81ec973336cedf61b1.png" alt="" original-src="https://media.ycharts.com/charts/47d396d673a00c81ec973336cedf61b1.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>数据来源：YCharts。</p>
</div><h2>The stock is built for more upside</h2>
<div class="lb-trans"><h2>股票具备更大上涨空间</h2>
</div><p>TSMC stock has jumped an impressive 59% in the past three months. Even then, it is trading at 28 times trailing earnings as compared to the tech-laden <strong>Nasdaq 100</strong> index's average earnings multiple of more than 32. The forward earnings multiple of 24 is even more attractive and is yet another signal of the company's continued bottom-line growth.</p>
<div class="lb-trans"><p>TSMC 的股票在过去三个月中上涨了令人印象深刻的 59%。即便如此，它的交易市盈率为 28 倍，而科技股密集的 <strong>纳斯达克 100</strong> 指数的平均市盈率超过 32 倍。24 倍的前瞻市盈率更具吸引力，进一步表明该公司持续的盈利增长。</p>
</div><p>Investors looking to add an AI stock to their portfolios should consider buying TSMC as a top pick. It has room to run higher and is trading at a discount to the broader technology sector, despite quarter after quarter of outstanding execution.</p>
<div class="lb-trans"><p>希望在投资组合中增加 AI 股票的投资者应考虑将 TSMC 作为首选。尽管每个季度的表现都非常出色，但它仍有上涨空间，并且交易价格低于更广泛的科技行业。</p>
</div>

This Tech Giant Is the Best Artificial Intelligence (AI) Chip Stock to Buy Right Now

- 台积电 Q2 收入同比增长 44%，达到 301 亿美元，超出预期。  
- 公司预计 2025 年全年的收入将增长 30%，并已实现 2025 年上半年 40% 的增长。  
- 台积电在全球半导体代工市场占有 68% 的份额，显示出强大的定价能力。  

这家科技巨头是当前最值得购买的人工智能（AI）芯片股票