TSM To Announce Additional Fab Expansion Plans: Digitimes Asia

Taiwan Semiconductor Manufacturing Co Ltd TSM will shortly disclose plans to build additional 28nm, 12nm, and 16nm process fabrication lines at new fabs, in addition to its Nanjing fab expansion Digitimes Asia reports.
Needham analyst Charles Shi initiated coverage on TSM with a Buy rating.
The firm expects revenue CAGR of 15% despite industry downturn within two years. The introduction of the 3nm technology, which will be largely immune to the industry cyclicality, supports the growth thesis.
TSM just reported a June revenue growth of 22.8% to NT$148.47 billion.
Price action: TSM shares traded higher by 2.11% at $125.21 on the last check Tuesday.