Technology / Semiconductor / Internet Research

Nicolas Baratte

Nicolas Baratte has been a financial analyst since 2000, covering the Semiconductor sector and Global Technology. Nicolas has worked on the sell-side for JPMorgan, CLSA. On the buy-side for a Tiger fund and Prudential. Nicolas has covered semiconductors, Asian hardware and components, and the Global Tech supply chain. Nicolas lives mostly in Taiwan, sometimes in France and is in New York regularly.

TSMC Q1 2026. TeraFab? There Are No Shortcuts!

Memory Is Still Your Best Friend. Memory Revenues Revised up Massively, Margins Expanding Further

Semiconductor Market Value. TSMC Said $1.5tn by 2030. WSTS Says $1.9tn in '27. $2.5 Trillion by '30?

NVIDIA Keynote Computex 2026. Key Takeaways & Full Transcript

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Korea semi export up 173% YoY, that’s Memory of course. As the mix moves towards more HBM and LPDDR, prices should keep going up.</li>
<li>TSMC steady 30% revenue growth YoY. Growth could accelerate in 2H26 on rapidly growing 2nm revenues (it’s gonna be a fast ramp to 100k wpm in 2H26).</li>
<li>Mediatek revenues decline year-to-date, that’s smartphone and consumer elec markets shrinking. The stock is up 200% YTD, TPU sales to Google in 2027 could reach “billions US$” revenue.</li>
</ul>


Korea semi export up 173% YoY, that’s Memory of course. As the mix moves towards more HBM and LPDDR, prices should keep going up.
TSMC steady 30% revenue growth YoY. Growth could accelerate in 2H26 on rapidly growing 2nm revenues (it’s gonna be a fast ramp to 100k wpm in 2H26).
Mediatek revenues decline year-to-date, that’s smartphone and consumer elec markets shrinking. The stock is up 200% YTD, TPU sales to Google in 2027 could reach “billions US$” revenue.


Semi Monthly Revenue, Korea (Memory), TSMC and Mediatek