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TSMC’s $100 Billion Wipeout Fails to Faze Bullish Analysts

  • Selloff is seen partly on macro headwinds, not fundamentals
  • Buy recommendations, high price targets point to a recovery
TSMC Headquarters and Museum Ahead of Earnings Results
Photographer: I-Hwa Cheng/Bloomberg
Updated on

The share price slump that’s erased about $100 billion from the market value of Taiwan Semiconductor Manufacturing Co. this year means little to the legion of analysts who see the stock as a screaming buy.

TSMC shares are expected to climb about 50% to a record high 12 months from now, according to sell-side analyst estimates compiled by Bloomberg, as macro headwinds buffeting the sector ease and investors return their focus to the company’s fundamentals.