TSM · TSM · 破历史新高 · 后市策略 Historic High · Forward Strategy
今日 $TSM 股价最高触及约 $414.5，正式创下历史新高。Wealth Club团队早在市场形成共识之前，已率先完成研判并将完整布局逻辑提前同步至平台交易机会报告，与会员携手在低位成功完成建仓，至今已取得相当可观的涨幅。所有操作记录均已公开于会员平台，供会员随时核对对照。
Today, $TSM reached a historic high of approximately $414.5. Long before market consensus formed, the Wealth Club team had already completed its assessment and published the full positioning rationale through the Trading Ideas report on the platform, building positions together with members at lower levels ahead of the move. The position has since delivered a substantial gain. All trade records are documented on the member platform and available for members to verify at any time.
🎉 恭喜与团队同行的会员们见证 $TSM 今日创下历史新高，并成功捕捉这一段强劲行情。
🎉 Congratulations to all members who were positioned alongside the team and witnessed $TSM reach a historic high today, successfully capturing this powerful move.
台积电（$TSM）是全球半导体供应链中不可替代的核心枢纽，当前正处于AI驱动的先进制程与封装双引擎增长高峰期。2026年4月16日发布的Q1 2026财报显示，营收达 $35.90 亿美元（同比增长40.6%），净利润同比增长58.3%至NT$572.48亿元，稀释每股收益达 $3.49（ADR），毛利率高达66.2%，运营利润率58.1%，全面大幅超出指引。
Taiwan Semiconductor Manufacturing Company ($TSM) is the indispensable hub of the global semiconductor supply chain, currently at the peak of a dual-engine growth cycle driven by AI advanced process technology and packaging. The Q1 2026 earnings report released on April 16 showed revenue of $35.90 billion, up 40.6% year-on-year, with net profit up 58.3% to NT$572.48 billion, diluted EPS of $3.49 per ADR, gross margin of 66.2%, and operating margin of 58.1% — all significantly exceeding guidance across the board.
2026年3月合并营收达NT$415.19亿元，同比增长45.2%，环比增长30.7%，第一季度总营收NT$1,134.10亿元（同比增长35.1%），强劲数据充分反映3nm、5nm等先进节点及AI芯片制造需求的持续旺盛。管理层将全年营收增长预期上调至逾30%（美元计），并将资本支出预算上调至 $52 至 $56 亿美元区间高位，重点投入2nm先进制程（N2/N2P）与CoWoS先进封装产能扩张。
March 2026 consolidated revenue reached NT$415.19 billion, up 45.2% year-on-year and up 30.7% month-on-month, with Q1 total revenue of NT$1,134.10 billion, up 35.1% year-on-year — strongly reflecting sustained demand for advanced nodes including 3nm and 5nm, as well as AI chip manufacturing. Management raised the full-year revenue growth outlook to over 30% in US dollar terms and increased the capital expenditure budget to the high end of the $52 to $56 billion range, with priority investment in 2nm advanced process technology (N2/N2P) and CoWoS advanced packaging capacity expansion.
CoWoS先进封装产能正从2025年的约75,000片每月快速扩张至2026年底的约130,000片每月，复合年增长率约80%。NVIDIA等超大规模客户已预订大部分2026年产能，封装瓶颈的持续缓解将为台积电带来更高附加值营收。Q2营收指引为 $39.0 至 $40.2 亿美元（环比增长约10%），显示增长势头持续强劲。
CoWoS advanced packaging capacity is rapidly expanding from approximately 75,000 wafers per month in 2025 to approximately 130,000 wafers per month by end of 2026, representing a compound annual growth rate of approximately 80%. NVIDIA and other major hyperscaler customers have already reserved the majority of 2026 capacity. The continued easing of packaging bottlenecks will generate higher value-added revenue for TSMC. Q2 revenue guidance of $39.0 to $40.2 billion, up approximately 10% quarter-on-quarter, signals continued strong growth momentum.
4月期间，台积电在北美技术研讨会上展示A13/N2U工艺进展，进一步强化与生态伙伴的合作。台湾监管放宽基金单一持股上限，释放本地资金流入潜力。公司CEO等多名高管小幅增持股份，体现管理层对公司前景的高度信心。
During April, TSMC presented A13/N2U process technology advances at a North America technology symposium, further strengthening ecosystem partnerships. Taiwan's regulatory relaxation of single-stock holding limits for funds has released potential for additional local capital inflows. Several executives including the CEO made modest share purchases, reflecting management's high conviction in the company's outlook.
团队已结合最新市场变化与公司催化剂完成综合评估，最新操作建议与后市研判详见付费专区。
The team has completed a comprehensive assessment incorporating the latest market developments and company-specific catalysts. The latest operational guidance and forward analysis are available in the members-only section below.
