---
title: "华泰证券：维持台积电买入评级 目标价 370 美元"
description: "华泰证券维持台积电买入评级，目标价 370 美元。公司 Q3 业绩超预期，AI 需求强劲推动先进制程与封装产能扩张。上调 2025 年收入及资本开支指引，N2 量产在即，2026 年 HPC 增长可期。凭借技术领先与定价能力，有望抵消海外扩产对毛利率的短期稀释，长期盈利能力稳固。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/261883131.md"
published_at: "2025-10-20T12:23:40.000Z"
---

# 华泰证券：维持台积电买入评级 目标价 370 美元

> 华泰证券维持台积电买入评级，目标价 370 美元。公司 Q3 业绩超预期，AI 需求强劲推动先进制程与封装产能扩张。上调 2025 年收入及资本开支指引，N2 量产在即，2026 年 HPC 增长可期。凭借技术领先与定价能力，有望抵消海外扩产对毛利率的短期稀释，长期盈利能力稳固。

华泰证券维持台积电买入评级，目标价 370 美元，公司 Q3 业绩超预期，AI 需求强劲推动先进制程与封装产能扩张。上调 2025 年收入及资本开支指引，N2 量产在即，2026 年 HPC 增长可期。凭借技术领先与定价能力，有望抵消海外扩产对毛利率的短期稀释，长期盈利能力稳固。公司 Q3 业绩超预期，AI 需求强劲推动先进制程与封装产能扩张。上调 2025 年收入及资本开支指引，N2 量产在即，2026 年 HPC 增长可期。凭借技术领先与定价能力，有望抵消海外扩产对毛利率的短期稀释，长期盈利能力稳固。

### Related Stocks

- [TSM.US - 台积电](https://longbridge.com/zh-CN/quote/TSM.US.md)

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