In its latest report, Morgan Stanley Securities pointed out that according to supply chain visits, most of Taiwan Semiconductor's customers have agreed to raise foundry prices in exchange for reliable supply, which will further drive up Taiwan Semiconductor's gross margin. Analysts estimate that Taiwan Semiconductor's gross margin will rise to 55.1% in 2025 and will approach 60% in 2026, reaching 59.3%. Industry insiders said that this price increase may be based on market demand, capacity, and cost considerations. It has been reported that Apple, Qualcomm, Nvidia, AMD and other four major factories have heavily contracted Taiwan Semiconductor's 3nm family process capacity and a customer queue has emerged, reaching all the way to 2026. (Brokerage China)