Taiwan Semiconductor Manufacturing Co Ltd

NYSE:TSMUnited States

0306 GMT - TSMC continues to be a buy for Deutsche Bank, which sees robust demand for its chips, fueled by AI. The chip maker's utilization rate of production lines could rise in 2H with blended utilization set to reach 90% by 4Q and advanced nodes utilization likely to reach full capacity, DB analyst Robert Sanders says in a note. That should drive TSMC's capital expenditure up 19% to US$37 billion next year, he adds. The upgrade cycle to add AI to smartphones and PCs will likely be an important driver of TSMC's sales in 2025, the analyst says, noting that Apple represents 25% of the Taiwanese company's sales, while AMD and Nvidia make up around 11% and 8%, respectively. DB raises its target price on TSMC stock to NT$1,050.00 from NT$900.00. Shares are last at NT$972.00. (sherry.qin@wsj.com)

By Eric J. Savitz and Adam Clark

Nvidia held its annual shareholder meeting on Wednesday.

The event lasted 30 minutes and had little impact on the stock price.