Bernstein’s Mark Li Raised His Taiwan Semiconductor Manufacturing (TSM) Target to $600. Here’s What Changed

What happened: Bernstein analyst Mark Li raised his price target on Taiwan Semiconductor Manufacturing (TSM) to $600 from $554 and kept an Outperform rating, citing faster than expected demand from Amazon and Google in-house custom chips. Key numbers: Target $600, up from $554. TSM five-year EPS growth rate 25.67%, average upside potential 33%. Why it matters: Li's reasoning is that custom chip demand is pulling more of the AI market toward TSM's most advanced factories, and he applied a forward earnings multiple to estimates from late 2027 into 2028, making the call a bet on durability. Market: -4.3% today ($166.19), -11.9% YTD, 3.9x vol — as of 23:31 UTC

Bernstein analyst Mark Li raised his price target on Taiwan Semiconductor Manufacturing (TSM) to $600 from $554 and kept an Outperform rating, citing faster than expected demand from Amazon and Google in-house custom chips.

Li's reasoning is that custom chip demand is pulling more of the AI market toward TSM's most advanced factories, and he applied a forward earnings multiple to estimates from late 2027 into 2028, making the call a bet on durability. Market: -4.3% today ($166.19), -11.9% YTD, 3.9x vol — as of 23:31 UTC