The strong beat and raised guidance confirm TSMC's dominant position in leading-edge semiconductor manufacturing. With the 2nm ramp accelerating and AI demand robust, the stock is likely to see positive momentum. Traders should watch for further upward revisions and potential analyst upgrades. The Q3 guide implies continued sequential growth, supporting the bullish thesis.
Price Chart
Executive Summary
TSMC reported Q2 2026 results with revenue up 36% YoY (NT$1,270.38B) and EPS up 77.4% YoY (NT$27.25), significantly beating expectations. The company guided Q3 revenue to US$44.6-45.8B (above consensus) and raised full-year 2026 revenue growth to 'slightly above 40%' in USD, driven by strong demand for leading-edge technologies including the 2nm ramp. Gross margin expanded to 67.7% and operating margin to 60.3%.
Key Facts
- Q2 2026 revenue NT$1,270.38B (+36% YoY, +12% QoQ)
- Net income NT$706.56B (+77.4% YoY)
- Diluted EPS NT$27.25 (US$4.31 per ADR unit) (+77.4% YoY)
- Gross margin 67.7%, operating margin 60.3%, net profit margin 55.6%
- Advanced technologies (7nm+) accounted for 77% of wafer revenue
- 2nm technology contributed 3% of wafer revenue in Q2
- Q3 2026 guidance: revenue US$44.6-45.8B, gross margin 65-67%, operating margin 56-58%
- Full-year 2026 revenue expected to increase slightly above 40% in USD
Financial Impact
Revenue increased 36% YoY to NT$1.27T; EPS surged 77% YoY to NT$27.25; Q3 revenue guide midpoint of ~US$45.2B implies ~13% QoQ growth at the high end.
Risk Factors
- Geopolitical tensions (Taiwan/China) could disrupt operations
- Macroeconomic slowdown could weaken demand beyond AI
- Currency fluctuations (NTD/USD) could impact reported revenue
- Capital expenditure intensity may pressure free cash flow
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001046179-26-000451 |
| Document: tsm-20260716x6k.htm | 0001046179-26-000451 |
| Document: a2q26presentatione.htm | 0001046179-26-000451 |
| Document: 0001046179-26-000451-index-headers.html | 0001046179-26-000451 |
| Document: 0001046179-26-000451-index.html | 0001046179-26-000451 |
| Document: 0001046179-26-000451.txt | 0001046179-26-000451 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 6-K | $428.03 $430.26 | ▲ +0.52% | ▲ +1.02% | $465.00 (+8.64%) |
Sep 4, 2026 28d ago | Insider Cluster | $428.91 $418.01 | ▼ −2.54% | ▼ −1.33% | $465.00 (+8.41%) |
Sep 1, 2026 4w ago | 6-K | $414.00 $435.36 | ▲ +5.16% | ▲ +5.08% | $465.00 (+12.32%) |
Aug 25, 2026 5w ago | 6-K | $417.41 $413.98 | ▼ −0.82% | ▼ −0.28% | $465.00 (+11.40%) |
Aug 14, 2026 7w ago | 6-K | $426.35 $418.95 | ▼ −1.74% | ▼ −0.37% | $465.00 (+9.07%) |
Aug 11, 2026 7w ago | 6-K | $422.06 $413.41 | ▼ −2.05% | ▼ −1.65% | $465.00 (+10.17%) |
Aug 11, 2026 7w ago | 6-K | $422.06 $413.41 | ▼ −2.05% | ▼ −1.65% | $465.00 (+10.17%) |
Aug 10, 2026 7w ago | Insider Cluster | $418.47 $430.75 | ▲ +2.93% | ▲ +2.98% | $465.00 (+11.12%) |
Aug 10, 2026 7w ago | Insider Cluster | $418.47 $430.75 | ▲ +2.93% | ▲ +2.98% | $465.00 (+11.12%) |
Aug 10, 2026 7w ago | 6-K | $418.47 $430.75 | ▲ +2.93% | ▲ +2.98% | $465.00 (+11.12%) |
US Market Status
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