高盛上调台积电(TSM.US)盈利预测：3nm/5nm产能将持续紧张至2027年

智通财经01-09

智通财经APP获悉，当地时间1月4日，高盛将台积电(TSM.US)的目标价从1720元新台币上调至2330元新台币，同时维持“强力买入”评级。该公司已将其2026年和2027年的盈利预期上调了高达15%，这得益于人工智能(AI)领域的“多年增长引擎”。据分析师布鲁斯·卢称，对AI芯片的需求呈指数级增长，这意味着芯片需求将超过供应。卢预计，台积电在2026年至2028年期间将投入超过1500亿美元...

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href=http://www.zhitongcaijing.com/content/detail/1390878.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，当地时间1月4日，高盛将台积电(TSM.US)的目标价从1720元新台币上调至2330元新台币，同时维持“强力买入”评级。该公司已将其2026年和2027年的盈利预期上调了高达15%，这得益于人工智能(AI)领域的“多年增长引擎”。据分析师布鲁斯·卢称，对AI芯片的需求呈指数级增长，这意味着芯片需求将超过供应。卢预计，台积电在2026年至2028年期间将投入超过1500亿美元...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1390878.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1868838027.USD","symbol_name":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) 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2027","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSM":1.98,"03145":0.6},"content_text":"智通财经APP获悉，当地时间1月4日，高盛将台积电(TSM.US)的目标价从1720元新台币上调至2330元新台币，同时维持“强力买入”评级。该公司已将其2026年和2027年的盈利预期上调了高达15%，这得益于人工智能(AI)领域的“多年增长引擎”。据分析师布鲁斯·卢称，对AI芯片的需求呈指数级增长，这意味着芯片需求将超过供应。卢预计，台积电在2026年至2028年期间将投入超过1500亿美元用于资本支出，以满足激增的需求，其中包括2027年的540亿美元，届时新的晶圆厂将投入运营。强劲的需求还预计将使台积电的3纳米/5纳米晶圆产能在2027年之前持续紧张。该公司预计2026年营收增长30%，2027年增长28%，高于此前每年22%的预期。尽管资本支出增加且海外业务扩张，但2026年至2028年期间的毛利率仍有望超过60%。稳定的生产率提升以及海外工厂有限的稀释效应将推动这一增长。该公司进一步上调了相关预测数据，将2026年和2027年的CoWoS出货量预期分别提升至118.5万片与219.5万片晶圆，同时把CoWoS产能预期也相应调高至127.5万片与231万片晶圆。此次预测的上调，充分反映出与人工智能领域相关的市场需求更为强劲。据了解，台积电最新数据显示，12月营收3350亿元台币，同比增长20.4%，较2025年11月下降2.5%。台积电根据月度数据计算得出的第四季度营收总计10460.8亿新台币，不仅显著高于去年同期的8684.6亿新台币，也超过了伦敦证券交易所集团(LSEG)基于20位分析师预测的1.0359万亿新台币。得益于英伟达AI芯片与iPhone 17的强劲需求，公司全年营收激增31.6%，有效缓解了市场对AI基建“泡沫化”的担忧。台积电将于1月15日公布完整的季度财报，并发布2026年的资本支出预测。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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