Taiwan Semiconductor Manufacturing Company (TSM, Financial) saw its shares rise by 1.34% in pre-market trading, reaching $190. The increase comes as TSMC speeds up its overseas expansion plans. By 2025, the company projects to have ten new factories, both under construction and newly built, spread across domestic and international locations.
TSMC is making significant progress in the United States, Japan, and Europe. Notably, its second factory in Kumamoto, Japan, is set to begin construction in the first quarter of 2025, with production expected to start in 2027. This strategic expansion is supported by an adjustment in TSMC's target price by Barclays, which has increased from $215 to $240.
