Bernstein Asserts Outperform Rating as Taiwan Semiconductor Manufacturing Company Limited (TSM) Monthly Sales Track Ahead of Guidance

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of billionaire David Tepper’s top stock picks heading into 2026. On December 10, analysts at Bernstein SocGen Group reiterated an Outperform rating and a $330 price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). The positive stance is in response to the company tracking ahead of its fourth quarter guidance and consensus estimates.

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The company’s revenues in November were down 6.5% month over month to NT$344 billion but represented a 24.5% year-over-year increase. The year-over-year increase aligns with the 37% revenue growth over the past 12 months. The company’s revenue for October and November totaled NT$711 billion, accounting for 71% of the fourth quarter guidance.

Consequently, Taiwan Semiconductor is on course to deliver fourth-quarter revenue at the upper end of its historical range. Should the momentum from the past two months persist in December, Bernstein expects the company’s Q4 revenue to exceed the midpoint of guidance and consensus estimates by 3-4%.

The expected revenue growth is being driven by the robust production of artificial intelligence chips for Nvidia and Broadcom. The company is also capitalizing on the strong demand for Apple’s mobile phone chips.

Analysts at Bank of America have already raised their price target for the stock to $360, citing a strong view of TSMC’s AI growth trajectory.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest dedicated semiconductor foundry, meaning it manufactures chips designed by other companies, rather than designing its own brands.

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Disclosure: None. This article is originally published at Insider Monkey.