Citigroup: TSMC's Revenue Growth Expected to Stay Above 40% Through 2027

DeepTech TechFlow reports that on October 8, Citigroup analysts stated in a research report that driven by strong AI computing demand, potential growth in AI agents, and the rise of co-packaged optics (CPO) network cycles, TSMC's revenue growth rate is expected to remain above 40% through 2027. Analysts noted that with most AI chip clients, including NVIDIA, AMD, and Broadcom, anticipating accelerated growth, TSMC's AI-related revenue growth next year could nearly double. As a result, Citigroup expects the market to continue raising its earnings forecasts for TSMC. Citigroup pointed out that supported by strong revenue prospects, TSMC's capital expenditures could further rise to $81 billion in 2027 and $90 billion in 2028. Citigroup maintains its "Buy" rating for TSMC and has raised its target price from NT$3,800 to NT$4,000. (Jin10)