Bernstein raises TSMC price target to $600 from $554

The brokerage's latest bump puts its call above the early November analyst consensus range for the world's leading contract chipmaker Bernstein has raised its price target on Taiwan Semiconductor Manufacturing Company (TSMC) to $600, up from $554. A target that keeps climbing On August 11, 2026, Bernstein analyst Mark Li lifted the firm’s TSMC target from $430 to $554. He kept an Outperform rating on the stock at the time. The new $600 figure builds on that earlier call. Put together, Bernstein’s target has moved from $430 to $600 across the two revisions. The thesis behind August’s upgrade centered on CPUs, not just the AI accelerators that grab most of the headlines. Bernstein projected that TSMC’s CPU revenue could reach the high-$30 billion range by 2027. That compared with a prior estimate of $15-16 billion. Roughly speaking, the firm more than doubled its expectations for that slice of the business. The demand is expected to come from a long list of heavyweight customers. Bernstein’s research pointed to AMD, Intel, Apple, Amazon, Google, and Arm as key clients driving that growth. The technology doing the heavy lifting Bernstein highlighted TSMC’s N2 process as a central grow...