UBS Calls TSMC's Capex Surge Reassurance As Futures Fall
TSMC raised its 2026 capex ceiling to $60-64 billion from $52-56 billion and now expects revenue growth above 40%.
- Q2 net income hit NT$706.6 billion on NT$1.27 trillion in sales, with margins near 68%.
- TSMC added $100 billion to Arizona plans, lifting its total US commitment to $265 billion.
- US stock futures fell after the earnings, reviving AI-bubble concerns Bloomberg and ZeroHedge both reported.
Why it matters: The same results reassured the analyst who covers the stock and spooked the futures market reading them cold.
ZeroHedge (UBS analyst Crystal Hsu commentary) ↗ · Jul 16, 20267/16/26 · ✓ Checked✓ Check