On July 21, TSMC rose 3.05% in pre-market trading, trading at $415.13/share, with turnover of $11.68 million. The rally was driven by bullish commentary from TSMC CFO Wendell Huang and a wave of analyst target price upgrades.

On the news front, CFO Huang stated that TSMC's 2nm process has already achieved initial revenue contribution in Q2 and will become a brand-new core growth driver entering Q3. The company is rapidly converting existing 5nm production lines to more advanced 3nm processes to secure customer supply. Huang emphasized that AI chip demand remains \"strong and will last for many years,\" adding that TSMC \"will never hand any market opportunity to competitors.\" The company raised full-year capital expenditure guidance to $60-64 billion (from $52-56 billion) and revised full-year revenue growth expectations upward to slightly above 40%.

Meanwhile, multiple institutions have raised target prices, including Barclays to $650, TD Cowen to $440, D.A. Davidson to $500, and Goldman Sachs to NT$3,100, all maintaining buy-equivalent ratings citing sustained AI demand visibility extending through 2030.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)