Taiwan Semiconductor Manufacturing Co. (TSM) stock has risen 105.1% over the past year, even though it slipped 2.9% in the last week and 2.3% over the past month. Wall Street’s analysts are strongly bullish, forecasting further gains over the next twelve months with an average price target of $423.50 versus the last close at $347.09.
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Analyst Haas Liu of BofA Securities reiterated a Buy rating on TSM on March 10, 2026, setting a U.S. price target of $470.00, which signals meaningful upside from current levels. Liu expects first-quarter 2026 sales to come in above normal seasonal patterns, driven mainly by strong demand for high-performance computing and AI-related chips.
The analyst notes that February sales fell 21% month over month, matching TSMC’s usual 10-year seasonal pattern tied to fewer working days around Lunar New Year. Quarter-to-date sales are already tracking at about two-thirds of both BofA’s and the company’s first-quarter expectations, implying March will need a robust rebound that still aligns with typical historical trends.
Liu highlights that growth is being propelled by powerful ramps in GPUs and ASICs and supported by early inventory builds for consumer chipsets, alongside better pricing from a more advanced product mix. While energy costs are rising due to Taiwan’s heavy reliance on imported LNG and recent electricity rate hikes, the impact is seen as manageable with limited disruption to operations.
This N-star analyst ranks 6,983 out of 12,079 on TipRanks, with a 60.0% success rate and an average return of 5.9% per rating. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.