Taiwan Semiconductor Manufacturing (TSM) Outlines Its Capex Plan Alongside Its Guidance for Q4

Man GLG holds $238.58 million worth of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), representing 0.45% of its 13-F portfolio. Thus, the company is included in Man GLG’s list of 10 stock picks with the highest upside potential.

During its earnings call for the third quarter on October 16, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) highlighted its capex plan alongside its guidance for the fourth quarter.

For Q3, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) recorded $33.09 billion in consolidated revenue and $15.10 billion in net income. The company narrowed its 2025 capital expenditure guidance to between $40 billion and $42 billion. This is an increase from its prior range of $38 billion to $42 billion, reflecting continued strength in AI-related demand. Out of this, 70% of the budget is dedicated to the company’s advanced process technologies, while 10-20% each will be utilized in specialty technologies and advanced packaging, testing, and other areas.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) reassured its investors that this higher capital spending will continue to drive future growth opportunities and help it deliver profitable returns to shareholders.

At the same time, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) issued its Q4 guidance, according to which it expects revenue between $32.2 billion and $33.4 billion, reflecting a 22% year-over-year increase at the midpoint. Meanwhile, gross margin is expected to be between 59% and 61% and operating margin is projected to range between 49% and 51%. The company assumed an exchange rate of USD 1 to TWD 30.6.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) serves leading global technology companies by designing and manufacturing integrated circuits and advanced semiconductors.

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