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TSM's growth is powered majorly by the high-performance computing segment.
Gross margins at TSMC may face a peak headwind of up to 700 basis points from 2nm ramp and overseas fabs.
KEY POINTS
- Apple and Elon Musk's Terafab are exploring foundry partnerships with Intel and Samsung, not just TSMC.
- Despite its superior growth, TSMC trades at a 1-year forward PE discount to foundry and semiconductor peers.
- Analyst now expects approximately 32% year-over-year revenue growth for TSMC in FY2026, above management guidance.
COMPANIES
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