Nomura raises the stock price target for TSMC to new highs—predicts a revenue increase of 25-30%

consensus_whisperer · 2026-03-05T21:16:44+00:00

Nomura Securities has raised its target price for Taiwanese semiconductor producer 2330 to TWD 2135, highlighting short-term growth due to global chip supply constraints and AI industry expansion. Revenue growth is projected at 25-30% this year, with gross margins potentially reaching 61.5% by 2027. Capital expenditures are expected to increase significantly in 2027 due to strong demand.

consensus_whisperer

2026-03-05 21:16:44

Abstract generation in progress

Nomura recently released an updated market analysis of the chip industry, significantly raising its valuation for Taiwanese semiconductor manufacturer 2330. Bank experts note that increasing restrictions on global chip supply, combined with the rapid development of the artificial intelligence industry, create extraordinary conditions for short-term revenue growth of Asian tech companies.

Significant increase in target stock price – new valuation of 2135 TWD

Nomura raised the target stock price for 2330 on the Taiwan Stock Exchange from previous 1855 TWD to a new 2135 TWD, while maintaining a “buy” recommendation. This valuation increase of 15% indicates a substantial shift in analysts’ expectations regarding the company’s fundamental prospects. This change is a direct result of updated earnings forecasts: Nomura increased its earnings per share projections for the current year by 15% and for the next year by 19%.

Sales dynamics and gross margin outlook – key growth drivers

Nomura forecasts that, thanks to a conservative approach to expanding production capacity and the ability to fully utilize demand driven by leading AI chip producers (Nvidia, Broadcom), 2330 will achieve revenue growth of 25-30% in USD this year. Even more promising are the gross margin prospects: analysts predict that between 2026 and 2027, due to increased plant burdens, product portfolio optimization (greater share of high-performance HPC solutions), and limited supply capacity to meet urgent orders, 2330’s gross margin could reach 61.5%.

Investment plans for the coming years – accelerated spending in 2027

Nomura maintains its capital expenditure forecast for 2330 at $45-50 billion for 2026. However, considering the limited availability of clean rooms in 2026, the bank expects investment acceleration in 2027 to $55-60 billion, reflecting the manufacturer’s ambitions to significantly expand production capacity amid sustained strong industry demand.

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