BofA raised the firm’s price target on TSMC (TSM) to NT$1,040 from NT$920 and keeps a Buy rating on the shares. The firm believes Apple’s (AAPL) announcement on “Apple Intelligence” bodes well for semi content increase and aligns well with themes the firm discussed in its on-device AI report. TSMC is the key beneficiary and enabler for AI prosperity, the analyst tells investors in a research note.
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