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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jim Fontanelli | Arete Research | 4 (25%) |
| Charlie Chan | Morgan Stanley | 4 (0%) |
| Bruce Lu | Goldman Sachs | 4 (25%) |
| Sunny Lin | UBS | 4 (0%) |
| Brad Lin | Bank of America | 4 (0%) |
| Gokul Hariharan | JPMorgan | 4 (50%) |
| Laura Chen | Citigroup | 4 (0%) |
| Charles Shi | Needham | 2 (50%) |
| Mehdi Hosseini | Susquehanna | 2 (0%) |
| Rob Sanders | Deutsche Bank | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 | 4 (0%) |
| Bank of America | 1 | 4 (0%) |
| Citigroup | 1 | 4 (0%) |
| Goldman Sachs | 1 |
| 4 (25%) |
| JPMorgan | 1 | 4 (50%) |
| Morgan Stanley | 1 | 4 (0%) |
| Arete Research | 1 | 4 (25%) |
| Deutsche Bank | 1 | 2 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $868.46B | +38.8% | $73.10 | +65.0% | 49.0% | 41.4% | $258.26B |
| FY2025 Q1 | $839.25B | +41.6% | $70.35 | +59.2% | 48.5% | 43.1% | $294.74B |
| FY2025 Q2 | $933.79B | +38.6% | $72.60 | +50.9% | 49.6% | 42.7% | $197.50B |
| FY2025 Q3 | $989.92B | +30.3% | $88.75 | +44.9% | 50.6% | 45.7% | $139.38B |
| FY2025 Q4 | $1055.98B | +21.6% | $98.40 | +34.6% | 53.9% | 48.3% | $388.17B |
| FY2026 Q1 | $1134.10B | +35.1% | $111.55 | +58.6% | 58.0% | 50.5% | $377.11B |
| FY2026 Q2 | $1270.38B | +36.0% | $136.25 | +87.7% | 60.3% | 55.6% | $287.36B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Taiwan Semiconductor opened 2026 with first quarter revenue of $35.9 billion, up 6.4% sequentially in U.S. dollar terms and slightly ahead of guidance, as HPC climbed 20% quarter-over-quarter to 61% of revenue on extremely robust AI demand. Gross margin expanded 3.9 percentage points sequentially to 66.2% on cost-improvement efforts, higher capacity utilization and a favorable exchange rate, and earnings grew sharply on operating leverage. Management raised its full-year 2026 revenue outlook to grow above 30% in U.S. dollar terms and guided its capital budget toward the high end of the $52 billion to $56 billion range, while stepping up 3-nanometer capacity across Taiwan, Arizona and Japan. The main cautionary notes were rising component prices and a memory price hike pressuring consumer and price-sensitive end markets, plus a second-half gross-margin headwind as the 2-nanometer node begins to ramp.
Demand | Capex Investment | Revenue Growth | Supply Chain | Pricing | Margin | Competitive Dynamics | Cloud & AI | |
|---|---|---|---|---|---|---|---|---|
| 2025Q4 | 8 | 6 | 3 | 3 | 2 | 1 | 1 | 2 |
| 2026Q1 | 3 | 3 | 3 | 2 | 3 | 4 | 4 | 2 |
| '25Q4 | '26Q1 | |
|---|---|---|
| Demand | 8 | 3 |
| Capex Investment | 6 | 3 |
| Revenue Growth | 3 | 3 |
| Supply Chain | 3 | 2 |
| Pricing | 2 | 3 |
| Margin | 1 | 4 |
| Competitive Dynamics | 1 | 4 |
| Cloud & AI | 2 | 2 |
What TSM and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“it's still at your competitors, Samsung Foundry.”
An analyst notes a customer's LPU business currently sits at Samsung Foundry, framing Samsung as a foundry competitor that has made inroads into AI silicon (Samsung is not a tracked Tellvest ticker).
“especially for those ASML, Applied Materials, Lam Research, et cetera. So, so far, we are very happy with their supportive.”
TSMC names Lam Research among the equipment partners it works closely with and is very happy with their support as it pulls in tools for the high-end CapEx ramp, a positive read-through for equipment demand.
“especially for those ASML, Applied Materials, Lam Research, et cetera. So, so far, we are very happy with their supportive.”
TSMC says it works closely with equipment suppliers including Applied Materials and is very happy with their support amid tight tool supply, a positive read-through for semiconductor equipment demand.
“Yesterday, ASML reported very, very strong results.”
An analyst cites ASML's very strong results and tight EUV tool supply, a positive read-through for ASML as leading-edge capacity expansion accelerates.
“NVIDIA, of course, they recently added more CPU content to the overall Vera Rubin SuperPOD”
An analyst notes NVIDIA added more CPU content to its Vera Rubin SuperPOD, implying continued AI-infrastructure content growth that supports demand for TSMC's leading-edge silicon.
“both Intel and Tesla, they are TSMC's customers”
TSMC frames Tesla as both a customer and a competitor after Tesla's Terafab initiative and a Samsung deal, signaling Tesla is pursuing in-house/alternative chip manufacturing while remaining a TSMC customer.
“we view Intel as our formidable competitor and do not underestimate them”
Asked about Intel building chips in-house, TSMC's CEO calls Intel a formidable competitor but stresses foundry leadership takes 2-3 years to build a fab with no shortcuts, a cautious competitive read-through for Intel Foundry.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 9 | +35.1% | |
| ADI Analog Devices | 9 | +30.4% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +93.4% | |
| AMAT Applied Materials | 5 | -2.1% | |
| AMD Advanced Micro Devices, Inc. | 9 | +37.9% | |
| ARM Arm Holdings | 7 | +20.1% | |
| ASML ASML Holding | 9 | +13.3% | |
| AVGO Broadcom Inc. | 9 | +29.5% | |
| INTC Intel Corporation | 6 | +7.2% | |
| KLAC KLA Corporation | 7 | +11.5% | |
| LRCX Lam Research | 9 | +23.8% | |
| MCHP Microchip Technology | 9 | +35.1% | |
| MPWR Monolithic Power Systems | 10 | +26.1% | |
| MRVL Marvell Technology | 10 | +22.1% | |
| MU Micron Technology, Inc. | 9 | +196.3% | |
| NVDA NVIDIA Corporation | 10 | +73.2% | |
| NXPI NXP Semiconductors | 7 | +12.2% | |
| ON ON Semiconductor | 6 | +4.7% | |
| Q Qnity Electronics, Inc. | 10 | +17.6% | |
| QCOM Qualcomm | 3 | -3.5% | |
| SWKS Skyworks Solutions | 3 | -1.0% | |
| TER Teradyne | 9 | +87.0% | |
| TXN Texas Instruments | 9 | +18.6% |