Here’s Why Bernstein’s Mark Li Is Raising His Price Target on TSMC (TSM) to $600

What happened: Bernstein analyst Mark Li raised his price target on Taiwan Semiconductor Manufacturing (NYSE:TSM) to $600 on November 4 and kept an Outperform rating. Key numbers: Price target $600. Market cap $2.15 trillion. Average upside potential 33%. 7-nanometer and smaller chips were 79% of wafer revenue last quarter. Revenue grew 41.2%. Why it matters: Li cites growing demand for custom CPUs designed by Amazon and Google and the 2-nanometer process as central growth drivers, with agent-style AI workloads speeding up CPU demand even as PC and low-end smartphone demand has been softer. Market: +0.4% today ($523.00), +11.3% YTD, 0.7x vol — as of 23:31 UTC

Bernstein analyst Mark Li raised his price target on Taiwan Semiconductor Manufacturing (NYSE:TSM) to $600 on November 4 and kept an Outperform rating.

Li cites growing demand for custom CPUs designed by Amazon and Google and the 2-nanometer process as central growth drivers, with agent-style AI workloads speeding up CPU demand even as PC and low-end smartphone demand has been softer. Market: +0.4% today ($523.00), +11.3% YTD, 0.7x vol — as of 23:31 UTC