---
title: "《大行》里昂予台积电「高度确信跑赢大市」评级  目标价 2,000 新台币"
description: "里昂发布研究报告，给予台积电「高度确信跑赢大市」评级，目标价为 2,000 新台币。报告指出，台积电 2026 年资本支出指引为 520 亿至 560 亿美元，反映出在 AI 需求激增的背景下，扩充产能面临复杂性。公司对 2026 年首季营收及毛利率的指引均高于预期，全年营收增长预期也超出预测，显示出其致力解决产能问题。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/272803842.md"
published_at: "2026-01-16T07:07:41.000Z"
---

# 《大行》里昂予台积电「高度确信跑赢大市」评级  目标价 2,000 新台币

> 里昂发布研究报告，给予台积电「高度确信跑赢大市」评级，目标价为 2,000 新台币。报告指出，台积电 2026 年资本支出指引为 520 亿至 560 亿美元，反映出在 AI 需求激增的背景下，扩充产能面临复杂性。公司对 2026 年首季营收及毛利率的指引均高于预期，全年营收增长预期也超出预测，显示出其致力解决产能问题。

里昂发表研究报告指，台积电 (TSM.US) 2026 年资本支出指引为介乎 520 亿至 560 亿美元，较预期提前一年，反映了在 AI 需求激增的时期扩充产能或面临难以估计的复杂性。

里昂又指，公司对 2026 年首季营收及毛利率指引均高於该行预期，全年营收增长的预期亦高於该行预测，认为大幅提高的资本支出，反映公司正致力解决产能问题，当中包括要应对土地获取、设施、无尘室及设备供应时程等。里昂对台积电 (2330.TW) 给予「高度确信跑赢大市」评级，目标价 2,000 元新台币，2027 年每股盈利预测为 100 元新台币。

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