Morgan Stanley promotes TSMC stock to Top Pick after Monday crash
Morgan Stanley has elevated Taiwan Semiconductor Manufacturing Company to its top pick status following a significant market selloff.
"Price hike confirmation and ongoing AI capex strength should be key catalysts," Morgan Stanley analysts noted, emphasizing the stock's attractiveness at 16 times the estimated 2025 earnings per share. "TSMC's margin improvement via its price hike should be realized," the note stated, predicting the company will deliver over 55% gross margin in 2025, potentially approaching 60% between 2028 and 2030 as overseas fabs scale up.) foundry and Chinese fabs. They believe these discounts could enhance TSMC's mature nodes utilization and counteract average selling price erosion, thereby maintaining overall profitability.
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