TSMC: the AI foundry moat with a geopolitical discount

A Coverage Bootstrap TSMC company evaluation covering advanced-node foundry leadership, CoWoS, customers, margins, capex, global fabs, Taiwan risk, and valuation setup.

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A Coverage Bootstrap TSMC company evaluation covering advanced-node foundry leadership, CoWoS, customers, margins, capex, global fabs, Taiwan risk, and valuation setup.

References

Sources used in this report

Company annual reportTSMC 2025 annual report2026-04-18 · 2025 revenue, gross margin, advanced technology mix, and operating context.Company investor siteTSMC investor relationsAccessed May 8, 2026 · Filings, quarterly reports, and investor materials.