Independent equity research
Is TSMC (Taiwan) (2330) a Buy, Hold or Sell?
TSMC (Taiwan) — our independent, AI-built valuation and rating, in brief.
HOLD
12-mo fair value
NT$2,450.00
To fair value
+4%
Report dated 2026-07-20 · fair value derived independently of the market price.
The thesis, in brief
Cheap on fwd earnings (16.7x 2027E), full on FCF after +100% run; capex super-cycle & Taiwan risk cap upside. Base +7%
How we value it
We value TSMC (Taiwan) using 18x normalized 2027E EPS + FCF/DCF cross-check. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalized EPS
- Returns on capital (ROIC vs WACC)
- Balance-sheet safety
- Two independent valuations (DCF + multiples)
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full TSMC (Taiwan) report
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