Glonghui, Oct. 24 | Goldman Sachs published a report saying that TSMC's management sent a positive message. It is expected that inventory adjustments will end soon. PC demand is already showing signs of stabilizing. It is believed that the growth prospects for next year will be healthy. The bank believes that TSMC's capacity utilization rate will fully recover next year. It will mainly benefit from rising demand for supplementary inventory, improved demand for personal computers and servers, stabilizing demand for smart phones, increased Intel outsourcing, and artificial intelligence driving market demand. It estimates that TSMC's revenue in US dollars for the first quarter of 2024 will fall 1% quarterly, less than 5% compared to market expectations. It also expects free cash flow to improve. The quarterly dividend is expected to increase. The target price has been raised from $110 to $115, and included in the “buy” rating.
大行评级|高盛:上调台积电目标价至115美元 评级“买入” 纳入确信名单
Bank Ratings | Goldman Sachs: Raise TSMC's target price to $115 and “buy” the rating is included in the confidence list
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