$TSM expects to earn less on each dollar of sales than GF Securities forecast, but sell enough more to offset it. GF expected: revenue growth of 11% quarter-on-quarter gross margin of 67.2% tsmc guided: roughly 14% revenue growth 65–67% gross margin a lot of debate this week on whether tsmc’s margin pressure is temporary. ramping 2nm production and overseas factories costs money. those pressures can persist while total gross profit grows - provided sales increase enough to compensate. so i’d watch whether revenue keeps delivering while those manufacturing costs remain. @sssjeffpu’s latest outlook pairs strong 2027 revenue growth with broadly flat margins through 2027–28. fyi: i started with @tessara_ai to investigate the margin pressure, then checked the broker updates separately.
View on X ↗