TSMC Q3 revenue reaches $46.7B as HPC share rises to 68%

Taiwan Semiconductor Manufacturing Company reported $46.7 billion in third-quarter revenue, with high-performance computing climbing to 68% of sales. The company said AI demand continues to exceed available semiconductor capacity, and fourth-quarter guidance implies 14% sequential growth. The N2 node already accounts for 8% of wafer revenue, while annual N2 capacity should more than double in 2027. Analysts see an improved risk-reward at current prices, with a base valuation implying roughly $440 to $483 per share.