TSMC (NYSE: TSM) trades at roughly $362–$366 per share as of mid-February 2026, with a market cap near $1.9 trillion. The stock is up over 170% in five years, driven by demand for advanced AI chips from Nvidia, Apple, and AMD.
Stock Price of TSMC
TSMC Stock Forecast
TSMC guided 2026 revenue to grow 30% year-over-year, with capex up to $56 billion. Management projects a 25% CAGR through 2029, which would push revenue near $237 billion and double EPS to ~$20.61. At the current forward P/E of 26, that implies a share price near $543 by 2029. DA Davidson set a $450 price target. Key risks: geopolitical tensions around Taiwan, and Apple accounting for 25% of TSMC's revenue. The company holds 71% of the global foundry market and over 90% share in advanced AI chips.
TSMC Valuation
Timeline of TSMC Funding
1987
Founded at $0 pre-money valuation. Taiwan's National Development Fund took 48%, Philips invested $58M for 27.5%, local business families funded the remaining 24.5%.
1994
IPO on the Taiwan Stock Exchange. Initial market cap ~$3.73 billion. Revenue had grown from 100M NTD at founding to 19.3B NTD.
1997
Listed ADRs on NYSE — first Taiwanese company to do so. Opened access to US institutional capital.
2000s
Philips fully divested its 27.5% stake by 2007. TSMC funded fab expansions through reinvested profits and bond issuances.
2020–25
Capex exceeded $30B/year. Berkshire Hathaway bought 60M shares ($4.1B) in Q3 2022, sold 86% next quarter. Secured government subsidies for fabs in Arizona ($65B), Japan ($7B+), and Germany (€10B+).
TSMC Investors
National Development Fund (Taiwan Gov.)
Stake
~6.4%
Type
Sovereign Fund
Since
1987 (founding)
Note
Largest single shareholder
The Vanguard Group
Stake
~8%
Type
Index / Mutual Fund
AUM
$9.0T+
Note
Passive index holder
BlackRock
Stake
~5%
Type
Asset Manager
AUM
$11.5T+
Note
Held via iShares / ETFs
Philips (Exited)
Initial Stake
27.5%
Investment
$58 million
Exit
Fully divested by 2007
Note
Also transferred IP & tech
Berkshire Hathaway (Exited)
Peak Stake
60M shares (~$4.1B)
Acquired
Q3 2022
Exit
Sold 86% by Q4 2022
Reason
Geopolitical concerns
State Street Corporation
Stake
~3%
Type
Asset Manager / ETF
AUM
$4.1T+
Note
Held via SPDR ETFs
Norges Bank Investment Mgmt.
Stake
~2%
Type
Sovereign Wealth Fund
Country
Norway
Note
World's largest SWF investor
