Mizuho Securities: TSMC Under Pressure but Still Outperforming
Taylor Wilson
Mizuho analyst Kevin Wang raised his TSMC price target, arguing the post-earnings selloff does not change the fundamental thesis — and may be a buying window.
Strong earnings — so why did the stock drop?
TSMC recently delivered strong quarterly results, yet the stock sold off immediately after.
This means → the market chose to take profits after the beat — selling the news, not the business.
Wang stated clearly that the price-performance divergence does not alter TSMC's fundamental case.
Why is the analyst still bullish?
Wang maintained his outperform rating on TSMC and raised his price target.
In plain terms = he believes the market overreacted, and the current price undervalues TSMC's earnings power.
This reflects a view — at least within Mizuho's framework — that short-term volatility is not long-term damage.
$100 billion in Arizona — is it worth it?
TSMC has committed $100 billion to build fab capacity in Arizona.
Wang sees the plan as strategically significant — not just a capacity expansion but an investment in U.S. political and client relationships.
This means → near-term margins may take a hit, but the payoff is supply-chain diversification and geopolitical risk hedging.
Content is for reference only, not financial advice.