Taiwan Semiconductor Manufacturing (TSM · NYSE)

Taiwan Semiconductor reported record Q3 revenue of NT$1.49T (~US$46.8B), up 50% year over year, and announced a $2 billion supply agreement with GlobalFoundries to expand US chip manufacturing. The company has beaten earnings estimates in each of its last four quarters, most recently reporting $4.31 against a $3.87 estimate, while quarterly revenue has climbed from $989.92B in Q3 2025 to $1.27T in the quarter ended June 2026. Margins remain exceptional — 64.2% gross, 60.3% operating, 49.9% net — with ROE of 40.0% and modest leverage at 0.3x debt/EBITDA against $3.13T in cash. The stock trades at $453.31, up 10.9% over three months but down 6.7% from its 52-week high, at a P/E of 32.94 versus an analyst target of $555.01, with Q3 earnings due October 15.