Bernstein says TSMC (TSM.N) has reasonably increased its 2026 capex plan on the back of a solid demand base. Management reiterated on its recent earnings call it will not impose sudden large price hikes; with limited near-term price upside and shipments constrained by capacity, TSMC’s upward revenue revision suggests prior forecasts may have been too conservative. Bernstein states that, despite market volatility, sustainability of AI demand has improved over the past three months and that the re

Bernstein says TSMC (TSM.N) has reasonably increased its 2026 capex plan on the back of a solid demand base. Management reiterated on its recent earnings call it will not impose sudden large price hikes; with limited near-term price upside and shipments constrained by capacity, TSMC’s upward revenue revision suggests prior forecasts may have been too conservative. Bernstein states that, despite market volatility, sustainability of AI demand has improved over the past three months and that the recent market pullback should be viewed as an opportunity to add AI-related stocks.