IT News from November 10th: TSMC released its October report for the fiscal year 2026 (January 2026 to December 2026) today.

The company's cumulative total operating revenue from January to October was NT$4.49 trillion, which is approximately RMB 912.823 billion, representing a year-on-year increase of 43.3%.

In October, the consolidated revenue for that month was NT$586.89 billion, which is approximately RMB 119.432 billion, representing a year-on-year increase of 59.7% and a month-on-month increase of 14.7%.

TSMC is the world's largest wafer foundry, specializing in advanced manufacturing processes and special process wafer foundry services. Its business benefits significantly from the demand for AI chips, HPC, and high-end smartphones.

The article states that TSMC's monthly and cumulative revenue growth rates in October were significantly higher than the market's previous expectations for its monthly performance, and continued the strong momentum guided by the Q4 earnings conference.

TSMC provided revenue guidance for the fourth quarter of $52.3 billion to $54.3 billion at its earnings conference on October 15, and raised its annual dollar revenue growth forecast to approximately 44%, while maintaining a capital expenditure range of $60 billion to $64 billion.

The article also mentioned that Goldman Sachs raised TSMC's 12-month target price to NT$3,300.

The core points of focus for the market, as mentioned in the text, include the ramp-up in 2nm mass production, the advancement of Arizona's second factory to mass production in the third quarter of 2027, and the medium to long-term growth potential brought about by nearly 25 ongoing expansion projects worldwide.

Related Reading: TSMC's net profit for the third fiscal quarter of 2026 was NT$763.064 billion, a year-on-year increase of 68.7%; TSMC's revenue in September 2026 was NT$511.857 billion, a year-on-year increase of 54.6%; TSMC's revenue in August 2026 was NT$514.806 billion, a year-on-year increase of 53.3%; TSMC's revenue in July 2026 was NT$467.58 billion, a year-on-year increase of 44.7%.