---
type: "Topics"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/topics/28993561.md"
description: "$Taiwan Semiconductor(TSM.US) Quick Interpretation: The company's revenue and gross margin this quarter were not bad. Although some of the company's production capacity was affected by the earthquake in the first quarter, the two core metrics still met previous guidance. The gross margin was close to the upper limit of the guidance, mainly driven by AI demand and full production of advanced processes.Specifically, the revenue share of advanced processes remained above 70% this quarter, with strong demand for 3nm and 5nm. High-performance computing was the main growth driver, accounting for nearly 60% of total revenue.Compared to the first quarter data, the company's guidance for the second quarter is even better. The company expects second-quarter revenue to reach $28.4-29.2 billion, with gross margin maintained in the 57-59% range. Benefiting from AI demand, the high-performance computing business will continue to drive performance growth.Recently, due to tariff concerns, market expectations for the company and the industry have been somewhat cautious. However, the company maintained its full-year revenue growth target (around 25%) and capital expenditure target ($38-42 billion), further stabilizing market confidence.With increased demand from Qualcomm and Intel's outsourcing business, the company is continuously consolidating its leading position in advanced process manufacturing. Leveraging its "bargaining power" in the supply chain, the company can partially offset impacts while maintaining relatively stable operational performance."
datetime: "2025-04-17T07:03:32.000Z"
locales:
  - [en](https://longbridge.com/en/topics/28993561.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/28993561.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/28993561.md)
author: "[Dolphin Research](https://longbridge.com/zh-HK/news/dolphin.md)"
---

> 支持的語言: [English](https://longbridge.com/en/topics/28993561.md) | [简体中文](https://longbridge.com/zh-CN/topics/28993561.md)


# $Taiwan Semiconductor(TSM.US) Quick Interpretation…


### 相關股票

- [Taiwan Semiconductor (TSM.US)](https://longbridge.com/zh-HK/quote/TSM.US.md)
- [Qualcomm (QCOM.US)](https://longbridge.com/zh-HK/quote/QCOM.US.md)
- [Intel (INTC.US)](https://longbridge.com/zh-HK/quote/INTC.US.md)
- [INTEL-T (04335.HK)](https://longbridge.com/zh-HK/quote/04335.HK.md)

## 評論 (11)

- **赛博摸鱼选手 · 2025-04-17T07:30:35.000Z · 👍 2**: Good company, the price is also good, tariffs really can't be evaluated
  - **Dolphin Research** (2025-04-17T08:16:34.000Z): The biggest uncertainty is not knowing what Trump will do.
  - **赛博摸鱼选手** (2025-04-17T08:19:40.000Z): Yeah
- **tigerinmotion · 2025-04-17T07:06:35.000Z · 👍 2**: The market might not be easily fooled this time. Everyone knows there's a 90-day window period with a surge of urgent orders required for delivery in Q2, so capacity utilization and gross margins will definitely be sky-high. But this means part of the future demand is being pulled forward, so the ma
  - ***烟火声*** (2025-04-17T07:10:25.000Z): It's too hard to predict what will happen after 90 days.
  - **临** (2025-04-17T07:24:08.000Z): Neither the implementation of high tariffs after 90 days nor their cancellation can stop the development of TSMC, because the world needs to progress and cannot go back to farming. The only thing that
  - **可爱聪明喵** (2025-04-17T07:33:40.000Z): Don't worry, it's all short-term. Who knows, the next earnings report might come with a tariff agreement already settled.