Citibank: TSMC's revenue growth is expected to be even stronger over the next two years

MaticHoleFiller · 2026-04-02T00:44:31+00:00

Citi analysts forecast that TSMC's revenue will grow significantly over the next two years, benefiting from AI accelerators and broader chip demand, especially for 2-nanometer chips. Improved supply conditions have strengthened its pricing power, with AI revenue expected to double, and the target price raised to NT$2,800.

MaticHoleFiller

2026-04-02 00:44:31

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Citi analysts said in a report that TSMC could deliver stronger revenue growth over the next two years. They noted that chip demand is growing not only in AI accelerators, but also across a broader ecosystem, including CPUs, networking chips, and co-packaged optical components.

They said that tighter supply conditions strengthen TSMC’s pricing power and profit-margin resilience. They noted that, thanks to demand for larger and more advanced node process chips, TSMC’s AI-related revenue could grow by more than a factor of two.

They added that Citi expects 2-nanometer chips to become TSMC’s largest revenue source, with order visibility clear for at least the next three years.

Citi raised its target price for TSMC from 2,600 TWD to 2,800 TWD. The stock closed at 1,780.00 TWD.

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