Moody’s Ratings revised its outlook on Taiwan Semiconductor Manufacturing Company (TSMC) to positive from stable. The agency concurrently affirmed the company’s Aa3 issuer rating. This revision reflects TSMC’s dominant market position and technological leadership.
Advanced technologies, including 7-nanometer and smaller nodes, accounted for 76% of revenue in the first half of 2026. Moody’s expects annual revenue to grow between 30% and 40% over the next 12 to 18 months.
Strong demand for artificial intelligence and cloud computing fuels this growth. The agency projects TSMC’s adjusted EBITDA margin will reach approximately 75%, up from 72% in 2025.