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Analyst
Brett Simpson
Period: Reporting periods mapped to calendar 2024 Q4 – 2025 Q4 (5 quarters; questions recorded in 4).
- Questions
- 8on tracked calls
- Challenge rate
- 13%1 of 8 questionsLimited sample
- Companies
- 1questioned at least once
- Reporting periods
- 4with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 8 of 8 questions from 1 company
TSMTaiwan Semiconductor Manufacturing Company Limited8 questions · 4 reporting periods · 1 of 8 challenging
Calendar 2025 Q4
could that mean that we start to see supply and demand more in balance in 2027?
Show response
Wei said new fabs take 2-3 years, so 2026 CapEx adds little supply until 2028-2029 when he hopes the gap narrows; near-term focus is productivity.
When we factor in the ramp of more expensive overseas fabs, is 20% ASP -- wafer ASP increases the new normal for TSMC?
Show response
Huang said blended ASP rises with each new node and will continue, but noted pricing gains mainly offset cost inflation; utilization and productivity drive margins.
Calendar 2025 Q2
Can you maybe share with us if you're planning a bigger expansion of new capacity next year?
Show response
C.C. Wei said demand across 3nm, 5nm and future 2nm is very high, stronger than the company has seen in a long time, and reiterated that TSMC is working hard to narrow the demand-capacity gap.
to what extent can TSMC adjust wafer pricing higher to neutralize these cost increases in your business?
Show response
Wendell Huang said pricing is only one of six profitability factors TSMC leans on, and quantified AI's operational benefit as roughly USD 1 billion for every 1% productivity gain at TSMC's scale.
Calendar 2025 Q1
China was a meaningful portion of accelerated shipments well over 10% of volumes.
Show response
C.C. Wei confirmed strong non-China (especially U.S.) AI demand still supports doubling AI revenue in 2025 despite the China ban.
why does TSMC management not adopt a buyback framework particularly with the strength of the cash position
Show response
Wendell said prior studies and investor conversations consistently conclude a steadily increasing dividend is the better return-of-cash policy; buyback rejected.
Calendar 2024 Q4
Will you have a US price and a Taiwan price, or are you more likely to have a global price
Show response
C.C. Wei confirmed a higher US price for geographic flexibility and gave a clear phase-two/phase-three construction update.
how comfortable are you with the scale of what's being implied here?
Show response
C.C. Wei declined to confirm specific numbers but said AI demand (ASIC and GPU) is very strong and all runs on TSMC.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Limited | 8 | 13%1 of 8 questions |
- TSMTaiwan Semiconductor Manufacturing Company Limited · 8 questions13%1 of 8 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 2 | 50%1 of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q12 questions · challenge rate 50% (1 of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q3No questions recorded
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand4
- Pricing3
- Capex Investment2
- Supply Chain2
- Margin2
- Cloud & AI2
- Cost Pressure1
- Regulation Policy1
- Capital Allocation1
- Geographic Expansion1