TSMC Maintains Consensus Buy Rating With Over 20% Upside to $355

Taiwan Semiconductor Manufacturing Company (NYSE: TSM) continues to reinforce its position as the world’s most critical chipmaker, with Wall Street maintaining a consensus Buy rating and pointing to more than 20% upside toward the $355 median target. The bullish outlook is supported by broad-based strength across AI, mobile, and high-performance compute, as well as surging demand for advanced packaging.

Recent headlines have also placed TSMC in the center of a high-profile legal case. On November 25, TSMC filed a lawsuit against former senior VP Wei-Jen Lo—now at Intel—asserting violations of non-compete and trade-secret laws. Prosecutors later searched two residences and seized devices as part of a national-security investigation. Intel rejected the allegations, insisting its internal IP safeguards remain intact. Analysts note that the dispute underscores the strategic importance of TSMC’s advanced-node R&D.

Fundamentally, the biggest driver remains AI infrastructure. Bernstein raised its target to $330 for the ADR, citing explosive demand for CoWoS packaging, which is expected to reach 125,000 wafers/month by 2026. The firm models revenue growth of 23% in 2026 and 20% in 2027, supported by N2 adoption, N3 pricing, and improving smartphone demand. EPS is projected to grow at 20% CAGR through 2027 despite elevated capex.

Technical Analysis
TSM continues to respect its long-term ascending trendline, maintaining a strong bullish structure. Price recently bounced cleanly off trendline support around the $285–$290 region. The stock is consolidating beneath its $311 resistance zone, forming higher highs and higher lows.

RSI remains elevated yet stable, showing momentum is intact without signaling major exhaustion. A breakout above $311 could open a clear path toward $330–$355, aligning with analyst targets. Trendline support now sits near $291.