The institution has raised the target price of TSMC.

D. A. Davidson has raised its target price for TSMC from $450 to $500, while TD Cowen has raised its target price for TSMC from $400 to $440. TSMC fell more than 3% in early trading, causing the Taiwan stock market to plummet more than 4% below the 44,000-point threshold. Analysts believe that this is mainly due to the significant pullback in TSMC's stock price after an investor meeting, which dragged down the market. With TSMC leading the decline, selling pressure in the market has led to a sharp drop in the AI sector, causing the index to widen its losses to over 4%.