Taiwan Semiconductor Manufacturing Co Ltd

2330: XTAI (TWN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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TSMC Earnings: Lifting Valuation by 6% as Insatiable AI Demand Comes From Multiple Customers

Phelix Lee

Oct 16, 2025

TSMC raised its full-year US dollar revenue growth outlook to the mid-30s from 30% and the lower bound of capital expenditure by 5% to USD 40 billion. Third-quarter revenue was TWD 990 billion (USD 33.1 billion), up 6% sequentially. Gross margin grew 84 basis points from the prior quarter to 59.5%.

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Taiwan Semiconductor Manufacturing Co Ltd

TSMC Earnings: Lifting Valuation by 6% as Insatiable AI Demand Comes From Multiple Customers

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