TSMC Plans $52–56 B Capex as Analysts See 24% Upside to $410
As of February 2, 2026, consensus price target of $410 implies 24.03% upside after the stock surged 40.54% over the past six months and more than 10% in 2026, with nearly all analysts bullish. The company plans $52–$56 billion in 2026 capital spending—a 25% increase year-over-year—with revenue growth projected at roughly 30%, prompting multiple price-target raises.
1. Bullish Analyst Consensus
On February 2, 2026, analysts set a consensus price target of $410 for Taiwan Semiconductor Manufacturing Company, implying 24.03% upside. The stock has risen 40.54% over the past six months and over 10% in 2026, with nearly all analysts maintaining a bullish rating.
2. 2026 Capital Spending Increase
The company plans to invest $52–$56 billion in capital expenditures for 2026, a 25% increase from 2025, to expand advanced-node capacity for AI chip production. ADRs are projected to rise 5.6% in 2026, while revenue growth is forecast at roughly 30%.
3. Price Target Raises by Major Firms
TD Cowen lifted its price target to $370 from $325 while keeping a Hold rating, citing strong production execution. Morgan Stanley raised its target to NT$2,088, and Barclays boosted its target to $450 with an Overweight rating, pointing to robust gross margins and rising AI-driven demand.