Coverage summary
Aardvark Labs Capital Research has covered Taiwan Semiconductor Manufacturing Company Limited (TSM) since April 18, 2025. The company is in the Technology sector. This page lists 8 reports: 7 earnings recaps and 1 earnings preview.
The latest is the Q3 2026 Earnings Recap, published October 18, 2026. The current rating is Outperform, the same in every report since coverage began.
Translations: 8 in Chinese, 1 in Japanese and 1 in Korean.
The Excel model for TSM holds 21 quarters and 5 fiscal years of history and 8 quarters and 5 fiscal years of projections. It was last updated October 19, 2026.
All TSM reports
Recap: Q3 2026
FY26 Goes to 44% and Q4 Lands 6% Above the Street; the Stock Fell With the AI Tape, Not the Quarter — Maintain Outperform
Recap: Q2 2026
The Guide Leaps From 30% to 40%+ and CapEx to $64B: The Tape Sold the Capital Bill, Not the Business — Maintain Outperform
Recap: Q1 2026
The Guidance Ceiling Was the Floor: 66.2% Gross Margin, Agentic AI Names the Next Wave, and the FY26 Guide Gets Raised — Maintain Outperform
Flashcap: Q1 2026
66.2% Gross Margin and a 10% Sequential Q2 Guide Signal AI Demand Escape Velocity — Buy the Sell-Off
Recap: Q4 2025
FY25 Closes With a 62.3% Margin Print and a $56B Capex Bet on 2028: The AI Foundry Thesis Is Now a Multi-Year Capacity Commitment — Maintain Outperform
Recap: Q3 2025
Gross Margin 200bps Above Guide, FY25 Raised to Mid-30s, Overseas Dilution Cut in Half — Maintain Outperform
Recap: Q2 2025
Guide Raised to 30%, HPC at 60%: The AI Foundry Thesis Just Got Louder — Maintain Outperform
Recap: Q1 2025
The AI Foundry Is Earning Through the Tariff Storm: Initiating Coverage of TSMC at Outperform