According to a Morgan Stanley analyst report, TSMC’s capital expenditures between 2026 and 2028 could reach $200 billion, with factory utilization potentially exceeding 100%. Morgan Stanley has raised its revenue growth forecast for TSMC in 2026 to 36% in USD terms and expects its gross margin for the second quarter to remain around 66%. The target price has been increased from NT$2,288 to NT$2,588, with the rating maintained at “Overweight”.
Morgan Stanley forecasts TSMC's capital expenditure to reach $200 billion by 2026–2028.
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Summary
Morgan Stanley forecasts TSMC’s capital expenditure to reach $200 billion by 2026–2028, driven by ecosystem growth. Factory utilization may exceed 100% during this period. The firm raised its 2026 revenue growth forecast to 36% in USD and expects Q2 gross margin to be near 66%. TSMC’s target price was increased to 2,588 TWD, with the 'Overweight' rating maintained. This update provides new crypto price insights for investors monitoring semiconductor-linked assets.
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