<p><strong>台積電</strong>(TSM 0.75%) 的股票在過去三個月中大幅上漲，在此期間實現了 37% 的顯著漲幅，並且有很大機會在七月份達到新高。</p>
<p>在最近的激增後，台積電的股票目前交易於其 52 周區間的高端。公司預計將在 7 月 17 日發佈第二季度財報，發佈結果後有很大機會達到新的 52 周高點。</p>
<p>讓我們來看一下可能導致這種情況發生的原因。</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>圖片來源：Getty Images。</p>
<h2>台積電不斷提升的代工市場份額預示着又一個穩健的季度</h2>
<p>台積電是全球最大的半導體代工廠，隨着每個季度的推移，公司在這一市場的主導地位愈發明顯。根據市場研究公司 TrendForce 的數據，台積電在 2025 年第一季度的全球代工市場份額增加到近 68%。與去年同期相比，提升了六個百分點。</p>
<p>有很大機會台積電在今年第二季度的代工市場份額繼續增長，這從公司每月的收入數據中可見一斑。台積電 4 月份的收入同比激增 48%，而 5 月份的收入也增長了近 40%。共識預期台積電第一季度的收入將比去年同期增長 37%。</p>
<p>公司在季度前幾個月的收入增長表明，發佈財報時可能會超出分析師的預期。這並不令人驚訝，因為台積電管理層最近指出，針對其為多家芯片製造商（如 <strong>英偉達</strong>、<strong>AMD</strong>、<strong>博通</strong>、<strong>Marvell Technology</strong> 等）生產的人工智能（AI）芯片的需求已經超過了供應。</p>
<p>因此，台積電正在積極建設更多的製造廠，以便能夠利用對 AI 芯片日益增長的需求。公司計劃在 2025 年建設九個新的生產設施。這並不令人意外，因為它正在看到來自 <strong>英偉達</strong> 和 <strong>蘋果</strong> 等公司的先進芯片訂單激增，這些公司正在排隊等待台積電的設施來製造 AI 芯片。</p>
<p>因此，產能的增加和對其芯片的強勁需求的結合，可能足以讓台積電在本月發佈財報時超出華爾街對第二季度的預期。此外，台積電據報道正在提高其當前和下一代工藝節點的價格。因此，公司未來的利潤率可能會繼續改善，從而推動其盈利的強勁增長。</p>
<p>客户願意為台積電製造的芯片支付溢價的一個重要原因是，台積電在技術上的優勢使其能夠生產出不僅更強大而且更節能的芯片。這就是台積電預計第二季度運營利潤率為 48% 的原因，這將比去年同期的 42.5% 大幅提升。</p>
<p>不出所料，分析師預計台積電本季度的每股收益將躍升 54%，達到 2.28 美元。然而，由於上述因素以及價格上漲，強勁的出貨量可能為台積電的季度盈利帶來更強勁的增長。</p>
<p>此外，持續強勁的 AI 芯片需求，從一些台積電客户最近發佈的季度業績中可以看出，這些業績表明其在當前季度的 AI 相關增長加速，這表明其前景也可能穩健。所有這些都可能為台積電股票帶來更多上漲空間，這就是為什麼在即將發佈的季度報告之前購買它是個好主意，考慮到其極具吸引力的估值。</p>
<h2>現在購買這隻股票的最簡單理由</h2>
<p>考慮到台積電即將在幾周內發佈的穩健報告，以及其在長期內維持高增長水平的能力，現在購買這隻股票是個明智的選擇。畢竟，台積電的交易市盈率僅為 27 倍，低於科技股密集的納斯達克 100 指數的 32 倍市盈率。</p>
<p>24 倍的前瞻市盈率更具吸引力，尤其是考慮到其淨利潤增長率預計在未來也將加速。</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 當前財年每股收益預估數據來自 YCharts。</p>
<p>因此，投資者可以考慮在其季度報告發布前購買這隻 AI 股票，因為強於預期的業績和前景可能會幫助台積電躍升至新高。</p>

台積電

半導體 3 倍做多 - Direxion

<p>台積電（TSMC）股票在過去三個月上漲了 37%，預計在七月將達到新高，這得益於對人工智能芯片的強勁需求和市場份額的增加。台積電的收入增長，四月和五月的同比增幅分別為 48% 和 40%，這表明其可能超出第二季度的盈利預期。分析師預測每股收益將增加 54%，達到 2.28 美元，這得益於價格上漲和利潤率改善。由於台積電的估值具有吸引力，建議在其季度報告發布前進行買入</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>台積電</strong>(TSM 0.75%) 的股票在過去三個月中大幅上漲，在此期間實現了 37% 的顯著漲幅，並且有很大機會在七月份達到新高。</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>在最近的激增後，台積電的股票目前交易於其 52 周區間的高端。公司預計將在 7 月 17 日發佈第二季度財報，發佈結果後有很大機會達到新的 52 周高點。</p>
</div><p>Let's look at the reasons why that may happen.</p>
<div class="lb-trans"><p>讓我們來看一下可能導致這種情況發生的原因。</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>圖片來源：Getty Images。</p>
</div><h2>TSMC's improving foundry market share points toward another solid quarter</h2>
<div class="lb-trans"><h2>台積電不斷提升的代工市場份額預示着又一個穩健的季度</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>台積電是全球最大的半導體代工廠，隨着每個季度的推移，公司在這一市場的主導地位愈發明顯。根據市場研究公司 TrendForce 的數據，台積電在 2025 年第一季度的全球代工市場份額增加到近 68%。與去年同期相比，提升了六個百分點。</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>有很大機會台積電在今年第二季度的代工市場份額繼續增長，這從公司每月的收入數據中可見一斑。台積電 4 月份的收入同比激增 48%，而 5 月份的收入也增長了近 40%。共識預期台積電第一季度的收入將比去年同期增長 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>公司在季度前幾個月的收入增長表明，發佈財報時可能會超出分析師的預期。這並不令人驚訝，因為台積電管理層最近指出，針對其為多家芯片製造商（如 <strong>英偉達</strong>、<strong>AMD</strong>、<strong>博通</strong>、<strong>Marvell Technology</strong> 等）生產的人工智能（AI）芯片的需求已經超過了供應。</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，台積電正在積極建設更多的製造廠，以便能夠利用對 AI 芯片日益增長的需求。公司計劃在 2025 年建設九個新的生產設施。這並不令人意外，因為它正在看到來自 <strong>英偉達</strong> 和 <strong>蘋果</strong> 等公司的先進芯片訂單激增，這些公司正在排隊等待台積電的設施來製造 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，產能的增加和對其芯片的強勁需求的結合，可能足以讓台積電在本月發佈財報時超出華爾街對第二季度的預期。此外，台積電據報道正在提高其當前和下一代工藝節點的價格。因此，公司未來的利潤率可能會繼續改善，從而推動其盈利的強勁增長。</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>客户願意為台積電製造的芯片支付溢價的一個重要原因是，台積電在技術上的優勢使其能夠生產出不僅更強大而且更節能的芯片。這就是台積電預計第二季度運營利潤率為 48% 的原因，這將比去年同期的 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，分析師預計台積電本季度的每股收益將躍升 54%，達到 2.28 美元。然而，由於上述因素以及價格上漲，強勁的出貨量可能為台積電的季度盈利帶來更強勁的增長。</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，持續強勁的 AI 芯片需求，從一些台積電客户最近發佈的季度業績中可以看出，這些業績表明其在當前季度的 AI 相關增長加速，這表明其前景也可能穩健。所有這些都可能為台積電股票帶來更多上漲空間，這就是為什麼在即將發佈的季度報告之前購買它是個好主意，考慮到其極具吸引力的估值。</p>
</div><h2>The simplest reason to buy this stock right now</h2>
<div class="lb-trans"><h2>現在購買這隻股票的最簡單理由</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>考慮到台積電即將在幾周內發佈的穩健報告，以及其在長期內維持高增長水平的能力，現在購買這隻股票是個明智的選擇。畢竟，台積電的交易市盈率僅為 27 倍，低於科技股密集的納斯達克 100 指數的 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，尤其是考慮到其淨利潤增長率預計在未來也將加速。</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 當前財年每股收益預估數據來自 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，投資者可以考慮在其季度報告發布前購買這隻 AI 股票，因為強於預期的業績和前景可能會幫助台積電躍升至新高。</p>
</div>

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

- 台積電股價在過去三個月上漲了 37%。
- 公司預計在 7 月 17 日發佈第二季度財報，市場預期將超出預期。
- 台積電的市場份額和 AI 芯片需求持續增長，推動盈利能力提升。

預測：這隻傑出的人工智能（AI）股票將在七月達到新的高點