<p>全球最大的半导体代工厂，<strong>台积电</strong>（TSM 8.01%），为全球领先的芯片设计公司制造芯片。在过去六个月中，它也是市场上最热门的股票之一。</p>
<p>在此期间，该公司的股价飙升了惊人的 93%。该股的惊人反弹将在 10 月 16 日发布第三季度财报时获得重大推动。让我们看看为什么这只半导体股票在即将发布的季度报告后可能会继续上涨。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0ODYvdGFpd2FuLXNlbWljb25kdWN0b3ItdHNtYy1idWlsZGluZy13aXRoLXRzbWMtbG9nby1pbi1mcm9udF90c21jLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0ODYvdGFpd2FuLXNlbWljb25kdWN0b3ItdHNtYy1idWlsZGluZy13aXRoLXRzbWMtbG9nby1pbi1mcm9udF90c21jLmpwZyZ3PTcwMA"/></p>
<p>图片来源：TSMC。</p>
<h2>TSMC 的业绩和指引将会稳健</h2>
<p>由于人工智能（AI）芯片的蓬勃发展，TSMC 在过去几年中的增长表现出色。这家总部位于台湾的公司是全球最大的合同芯片制造商，市场份额估计达到 70%，根据市场研究公司 TrendForce 的数据显示。</p>
<p>TSMC 不仅为 <strong>AMD</strong>、<strong>Nvidia</strong> 和 <strong>Broadcom</strong> 制造芯片，还为 <strong>Apple</strong>（AAPL 0.97%）、<strong>Qualcomm</strong> 和联发科技等公司提供服务。这种多样化的客户基础使 TSMC 能够从数据中心、智能手机和计算机对 AI 芯片的强劲需求中受益。很容易看出，TSMC 今年的增长超出了其预期。</p>
<p>该公司最近公布了 9 月份的收入，这是第三季度的最后一个月。该月的收入较去年同期增长了 31%，使其季度总收入达到 325 亿美元。这略高于其指引范围的中点，也超过了华尔街的预期。</p>
<p>该公司在今年前九个月的总收入增长超过 36%。这使得 TSMC 有望超越其 2025 年的收入指引 30%。重要的是，TSMC 第三季度的收益也可能以稳健的速度增长。这是因为该公司据报道将其受欢迎的 3 纳米（nm）工艺节点的价格提高了约 20%。</p>
<p>使用 3nm 工艺节点制造的芯片因其在智能手机中的应用而需求旺盛。TSMC 报告称，2025 年第二季度其收入的 27% 来自智能手机领域，而 3nm 工艺节点占其总收入的 24%。考虑到 Apple 正在 TSMC 的 3nm 节点上制造其最新的 iPhone 处理器，并且其最新智能手机的需求超出预期，TSMC 可能会在年底受益于更高的出货量和价格。</p>
<p>根据 <strong>摩根士丹利</strong> 的预测，Apple 可能会将其 iPhone 的生产量从之前的 8400 万到 8600 万台提高到超过 9000 万台。Apple 据报道占 TSMC 总收入的 20%，因此 iPhone 生产的潜在增加以及价格的上涨可能会帮助这家芯片制造商发布超出预期的第四季度指引。</p>
<h2>股票在 2026 年及以后可能会持续上涨</h2>
<p>TSMC 将在 2026 年进一步改善其芯片制造工艺，转向 2nm 节点。通过缩小芯片的尺寸，TSMC 将能够增加计算能力并减少功耗。Apple、Nvidia、AMD 和联发科技据报道将成为该公司明年 2nm 芯片节点的首批客户。</p>
<p>预计 2nm 芯片的价格将比 3nm 工艺节点高出 10% 到 20%，因此不要惊讶于看到 TSMC 的收益增长速度在 2026 年超过市场共识预期。预计该公司今年的净利润将增长 40%。分析师预计这一增长率将在 2026 年放缓至 17%。</p>
<p>然而，现有 3nm 工艺节点的价格上涨以及下一代 2nm 工艺节点的更高定价，是 TSMC 的收益增长可能高于预期的原因。因此，其收益预期可能会进一步上调。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/6bfef96c83b8d58bff20daa9a3cfcc87.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/6bfef96c83b8d58bff20daa9a3cfcc87.png"/></p>
<p>数据来源：YCharts。</p>
<p>得益于半导体市场中由 AI 驱动的长期机会，TSMC 继续超越预期并保持健康增长的能力，将为这只成长股提供助力。这就是为什么在 TSMC 的前瞻市盈率为 25 倍时，购买其股票是明智之举。</p>
<p>目前，其市盈率相较于以科技股为主的 <strong>纳斯达克 100 指数</strong> 的 33 倍有着不错的折扣（使用该指数作为科技股的代理）。然而，10 月 16 日发布的一组稳健业绩可能会推动 TSMC 的股价上涨并提高估值，因此在此之前购买股票可能是个好主意。</p>

台积电

半导体 3 倍做多 - Direxion

<p>台湾半导体制造公司（TSMC）预计将在 10 月 16 日发布第三季度业绩后，其股价将显著上涨。该公司在过去六个月中股价上涨了 93%，这得益于对人工智能芯片的强劲需求以及包括主要科技公司在内的多元化客户基础。TSMC 在 9 月份的收入同比增长了 31%，预计由于其 3 纳米芯片价格的上涨，盈利也将增长。分析师预测持续增长，使得 TSMC 在其财报发布前成为一个引人注目的买入机会</p>

<p>The world's largest semiconductor foundry, <strong>Taiwan Semiconductor Manufacturing</strong>(TSM 8.01%), fabricates chips for the leading chip designers across the globe. It also happens to be one of the hottest stocks on the market over the past six months.</p>
<div class="lb-trans"><p>全球最大的半导体代工厂，<strong>台积电</strong>（TSM 8.01%），为全球领先的芯片设计公司制造芯片。在过去六个月中，它也是市场上最热门的股票之一。</p>
</div><p>Share prices of the company have shot up a remarkable 93% during this period. The stock's stunning rally is all set to get a major boost when it releases its third-quarter results on Oct. 16. Let's look at the reasons why this semiconductor stock can fly higher following its upcoming quarterly report.</p>
<div class="lb-trans"><p>在此期间，该公司的股价飙升了惊人的 93%。该股的惊人反弹将在 10 月 16 日发布第三季度财报时获得重大推动。让我们看看为什么这只半导体股票在即将发布的季度报告后可能会继续上涨。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0ODYvdGFpd2FuLXNlbWljb25kdWN0b3ItdHNtYy1idWlsZGluZy13aXRoLXRzbWMtbG9nby1pbi1mcm9udF90c21jLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F837486%2Ftaiwan-semiconductor-tsmc-building-with-tsmc-logo-in-front_tsmc.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: TSMC.</p>
<div class="lb-trans"><p>图片来源：TSMC。</p>
</div><h2>TSMC's results and guidance are going to be solid</h2>
<div class="lb-trans"><h2>TSMC 的业绩和指引将会稳健</h2>
</div><p>TSMC's growth has been outstanding in the past couple of years thanks to the artificial intelligence (AI) chip boom. The Taiwan-based company is the world's largest contract chipmaker with an estimated market share of 70%, according to market research firm TrendForce.</p>
<div class="lb-trans"><p>由于人工智能（AI）芯片的蓬勃发展，TSMC 在过去几年中的增长表现出色。这家总部位于台湾的公司是全球最大的合同芯片制造商，市场份额估计达到 70%，根据市场研究公司 TrendForce 的数据显示。</p>
</div><p>TSMC manufactures chips for not just <strong>AMD</strong>, <strong>Nvidia</strong>, and <strong>Broadcom</strong>, but also for the likes of <strong>Apple</strong>(AAPL 0.97%), <strong>Qualcomm</strong>, and MediaTek. This diverse customer base gives TSMC the ability to benefit from the booming demand for AI chips not just in data centers, but also in smartphones and computers. It is easy to see why TSMC's growth has been ahead of its projections so far this year.</p>
<div class="lb-trans"><p>TSMC 不仅为 <strong>AMD</strong>、<strong>Nvidia</strong> 和 <strong>Broadcom</strong> 制造芯片，还为 <strong>Apple</strong>（AAPL 0.97%）、<strong>Qualcomm</strong> 和联发科技等公司提供服务。这种多样化的客户基础使 TSMC 能够从数据中心、智能手机和计算机对 AI 芯片的强劲需求中受益。很容易看出，TSMC 今年的增长超出了其预期。</p>
</div><p>The company recently reported its revenue for September, the last month of Q3. Its top line jumped by 31% from the year-ago period during the month, bringing its total quarterly revenue to $32.5 billion. That's slightly higher than the midpoint of its guidance range, and also more than what Wall Street was looking for.</p>
<div class="lb-trans"><p>该公司最近公布了 9 月份的收入，这是第三季度的最后一个月。该月的收入较去年同期增长了 31%，使其季度总收入达到 325 亿美元。这略高于其指引范围的中点，也超过了华尔街的预期。</p>
</div><p>The company's total revenue in the first nine months of the year has jumped by over 36%. This puts TSMC well on course to exceed its 2025 revenue guidance of 30%. Importantly, TSMC's earnings for the third quarter are likely to grow at a solid pace as well. That's because the company has reportedly increased the price of its popular 3-nanometer (nm) process node by around 20%.</p>
<div class="lb-trans"><p>该公司在今年前九个月的总收入增长超过 36%。这使得 TSMC 有望超越其 2025 年的收入指引 30%。重要的是，TSMC 第三季度的收益也可能以稳健的速度增长。这是因为该公司据报道将其受欢迎的 3 纳米（nm）工艺节点的价格提高了约 20%。</p>
</div><p>Chips manufactured using a 3nm process node are in hot demand because of their deployment in smartphones. TSMC reported that 27% of its revenue came from the smartphone segment in the second quarter of 2025, and the 3nm process node accounted for 24% of its top line. Given that Apple is manufacturing its latest iPhone processors on TSMC's 3nm node, and its latest smartphones are seeing stronger-than-expected demand, TSMC is likely to benefit from a combination of higher volumes and pricing toward the end of the year.</p>
<div class="lb-trans"><p>使用 3nm 工艺节点制造的芯片因其在智能手机中的应用而需求旺盛。TSMC 报告称，2025 年第二季度其收入的 27% 来自智能手机领域，而 3nm 工艺节点占其总收入的 24%。考虑到 Apple 正在 TSMC 的 3nm 节点上制造其最新的 iPhone 处理器，并且其最新智能手机的需求超出预期，TSMC 可能会在年底受益于更高的出货量和价格。</p>
</div><p>According to <strong>Morgan Stanley</strong>, Apple may increase its iPhone production to more than 90 million units from the earlier build forecast of 84 million to 86 million units. Apple reportedly accounts for 20% of TSMC's top line, so a potential increase in iPhone production, as well as the reported increase in prices, could help the chipmaker issue better-than-expected guidance for Q4.</p>
<div class="lb-trans"><p>根据 <strong>摩根士丹利</strong> 的预测，Apple 可能会将其 iPhone 的生产量从之前的 8400 万到 8600 万台提高到超过 9000 万台。Apple 据报道占 TSMC 总收入的 20%，因此 iPhone 生产的潜在增加以及价格的上涨可能会帮助这家芯片制造商发布超出预期的第四季度指引。</p>
</div><h2>The stock could sustain its rally in 2026 and beyond</h2>
<div class="lb-trans"><h2>股票在 2026 年及以后可能会持续上涨</h2>
</div><p>TSMC is going to further improve its chip manufacturing process in 2026 by moving to a 2nm node. By shrinking the size of its chips, TSMC will be able to pack in more computing power and reduce power consumption. Apple, Nvidia, AMD, and MediaTek are reportedly going to be the first customers of the company's 2nm chip node next year.</p>
<div class="lb-trans"><p>TSMC 将在 2026 年进一步改善其芯片制造工艺，转向 2nm 节点。通过缩小芯片的尺寸，TSMC 将能够增加计算能力并减少功耗。Apple、Nvidia、AMD 和联发科技据报道将成为该公司明年 2nm 芯片节点的首批客户。</p>
</div><p>With the 2nm chips expected to carry a premium of 10% to 20% over the 3nm process node, don't be surprised to see TSMC's earnings growth to be faster than consensus estimates in 2026. The company is expected to clock a 40% increase in its bottom line this year. Analysts expect that growth rate to slow down to 17% in 2026.</p>
<div class="lb-trans"><p>预计 2nm 芯片的价格将比 3nm 工艺节点高出 10% 到 20%，因此不要惊讶于看到 TSMC 的收益增长速度在 2026 年超过市场共识预期。预计该公司今年的净利润将增长 40%。分析师预计这一增长率将在 2026 年放缓至 17%。</p>
</div><p>However, the reported price increases of the existing 3nm process node, as well as the higher pricing of the next-generation 2nm process node, are the reasons why TSMC's earnings growth could be higher than expected. As such, its earnings expectations could likely move higher.</p>
<div class="lb-trans"><p>然而，现有 3nm 工艺节点的价格上涨以及下一代 2nm 工艺节点的更高定价，是 TSMC 的收益增长可能高于预期的原因。因此，其收益预期可能会进一步上调。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/6bfef96c83b8d58bff20daa9a3cfcc87.png" alt="" original-src="https://media.ycharts.com/charts/6bfef96c83b8d58bff20daa9a3cfcc87.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>数据来源：YCharts。</p>
</div><p>TSMC's ability to continue outperforming expectations and maintain a healthy pace of growth, thanks to the AI-powered secular opportunity in the semiconductor market, should be a tailwind for this growth stock. That's why it would make sense to buy TSMC stock while it is trading at an attractive 25 times forward earnings.</p>
<div class="lb-trans"><p>得益于半导体市场中由 AI 驱动的长期机会，TSMC 继续超越预期并保持健康增长的能力，将为这只成长股提供助力。这就是为什么在 TSMC 的前瞻市盈率为 25 倍时，购买其股票是明智之举。</p>
</div><p>It is currently trading at a nice discount to the tech-heavy <strong>Nasdaq-100</strong> index's earnings multiple of 33 (using the index as a proxy for tech stocks). However, a solid set of results on Oct. 16 could send TSMC stock higher and inflate the valuation, so it may be a good idea to buy shares before that happens.</p>
<div class="lb-trans"><p>目前，其市盈率相较于以科技股为主的 <strong>纳斯达克 100 指数</strong> 的 33 倍有着不错的折扣（使用该指数作为科技股的代理）。然而，10 月 16 日发布的一组稳健业绩可能会推动 TSMC 的股价上涨并提高估值，因此在此之前购买股票可能是个好主意。</p>
</div>

Prediction: This Glorious Growth Stock Will Skyrocket on Oct. 16

- 台湾半导体制造公司（TSMC）在过去六个月股价上涨 93%。  
- 公司预计第三季度营收将达 325 亿美元，超出市场预期。  
- TSMC 将于 2026 年推出 2 纳米芯片，进一步提升盈利能力。  

预测：这只表现卓越的成长股将在 10 月 16 日大幅上涨