0316 GMT - TSMC's sales will likely continued to be boosted by promising AI opportunities, Citi analysts say in a research note. AI accelerators' contribution to TSMC's overall revenue could rise to 25% to 2025 and more than 30% in two to three years from mid-teens in 2024, the analysts say. For PCs and smartphones, the chip maker expects AI features to drive advanced node migration, leading to greater deployment of its 2-nanometer chips, which will start production in 2H, the analysts say. Citi reckons that with better utilization and efficiency enhancement, the chip maker could mitigate the potential negatives on gross margin such as advanced nodes ramp up, inflationary impact and overseas expansion. Citi maintains a buy call on TSMC despite the geopolitical uncertainties with its target price unchanged at NT$1,540.00. Shares are last at NT$1105.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 22:16 ET (03:16 GMT)
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