TSMC Falls More Than 6%; After the Earnings Release, Market Cap Evaporates Nearly NT$40 Trillion

According to market reports, after holding an earnings call, TSMC (2330-TW, TSM-US) saw its stock price drop by more than 6% today, falling to NT$2,310 and reaching a one-month low. The stock opened down nearly 4% and then the decline accelerated further throughout the entire trading session. The company’s market cap slid from NT$64.05 trillion to about NT$60.1 trillion, with nearly NT$40 trillion in market value wiped out in a single trading day.

Despite the company issuing favorable guidance yesterday, including raising its 2026 US dollar revenue growth guidance to over 40% and increasing full-year capital expenditures to $60–64 billion, investors’ focus remained on pressure on gross margin. Second-quarter gross margin was 67.7%, below some analysts’ expectations of 70%. At the same time, the market is also concerned about dilution effects from ramping 2-nanometer mass production (expected to impact gross margin by 3–4 percentage points in the second half of 2026) as well as rising overseas facility costs—together, these factors put additional strain on sentiment. #PreIPOs第二期OpenAI认购