TSMC Shares Surge to Record High as Goldman Sachs Boosts Price Target on AI Demand

Taiwan Semiconductor Manufacturing Company (TSMC) shares soared 6.9% to an all-time high after Goldman Sachs raised its price target by 35% to NT$2,330, maintaining a Conviction Buy rating. The rally reflects growing investor confidence in TSMC's dominance in AI chip production.

Goldman Sachs projects AI-driven demand will keep TSMC's capacity tight through 2027, with the company expected to invest $150 billion in expansion from 2026-2028. Revenue growth forecasts were revised upward to 30% in 2026 and 28% in 2027, up from previous estimates of 22%.

The chipmaker's gross margins are anticipated to remain above 60% through 2028 despite heavy capital expenditures. TSMC's 44% gain in 2025 propelled its market valuation beyond $1 trillion for the first time.

Monday's surge marked the stock's largest single-day advance since April, helping push Taiwan's Taiex index above the 30,000 threshold. Goldman analysts describe AI as "a multi-year growth engine" for TSMC, underscoring the semiconductor giant's pivotal role in the global tech ecosystem.