{
 "ticker": "TSM",
 "name": "TSMC",
 "url": "https://grantbishop.pages.dev/index/TSM",
 "sells": "Taiwan Semiconductor Manufacturing Company makes advanced chips designed by other firms.",
 "why": "We follow it because its business sits among the companies that make the chips and chipmaking tools the AI build-out runs on.",
 "questions": [
  {
   "slug": "chips",
   "question": "Who makes the chips, and the tools to make them?",
   "url": "https://grantbishop.pages.dev/index/q/chips"
  }
 ],
 "tests": [
  {
   "id": "W-6",
   "claim": "Spending on the AI build is running ahead of the revenue it produces.",
   "url": "https://grantbishop.pages.dev/claims/ai-spending-ahead-of-revenue"
  },
  {
   "id": "W-2",
   "claim": "The summer sell-offs on beat-and-raise reports are the market paying less for earnings, not the businesses failing. They reverse when the price of money stops rising.",
   "url": "https://grantbishop.pages.dev/claims/market-pays-less-for-earnings"
  }
 ],
 "reports_next": null,
 "latest_disclosed": {
  "form": "20-F",
  "filed": "2026-04-16",
  "period": "2025-12-31",
  "url": "https://www.sec.gov/Archives/edgar/data/1046179/000162828026025362/tsm-20251231.htm"
 },
 "disclosed": [
  {
   "date": "2026-10-15",
   "figure": "$46.72 billion",
   "what": "TSMC Q3 2026 revenue in US dollars",
   "source": "https://pr.tsmc.com/english/news/3346"
  },
  {
   "date": "2026-10-15",
   "figure": "41.2%",
   "what": "TSMC Q3 revenue growth year over year",
   "source": "https://pr.tsmc.com/english/news/3346"
  },
  {
   "date": "2026-10-15",
   "figure": "16.2%",
   "what": "TSMC Q3 revenue growth on the quarter",
   "source": "https://pr.tsmc.com/english/news/3346"
  },
  {
   "date": "2026-10-15",
   "figure": "66.4 percent",
   "what": "TSMC Q3 gross margin",
   "source": "https://pr.tsmc.com/english/news/3346"
  },
  {
   "date": "2026-10-15",
   "figure": "58.7%",
   "what": "TSMC Q3 operating margin",
   "source": "https://pr.tsmc.com/english/news/3346"
  },
  {
   "date": "2026-10-15",
   "figure": "$52.3–54.3 billion",
   "what": "TSMC Q4 2026 revenue guidance range (lower bound shown; upper bound 54.3)",
   "source": "https://pr.tsmc.com/english/news/3346"
  }
 ],
 "check": "Checked against the company's own business description in its latest annual filing.",
 "log": [
  {
   "date": "2026-10-19",
   "note": "Figures added from \"Last week's artificial intelligence slide: a bubble bursting, dearer money, or neither?\"."
  },
  {
   "date": "2026-10-19",
   "note": "Entry rewritten in plain words: what the company sells, and why we follow it."
  },
  {
   "date": "2026-10-12",
   "note": "Verified against the 20-F filed 2026-04-16 at launch."
  }
 ],
 "living_report": {
  "report": false,
  "last_revised": null,
  "next_disclosure": null,
  "timeline": [],
  "history": []
 },
 "market": {
  "rule": "Each figure is kept only where Massive and Yahoo agree on it to the cent; a figure they do not agree on is null. Dated, not live. The market value and the forward multiple are computed from the close.",
  "last_close": {
   "value": 388.62,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
    "Massive",
    "Yahoo"
   ]
  },
  "day_range": {
   "low": 380.33,
   "high": 394.39,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
    "Massive",
    "Yahoo"
   ]
  },
  "range_52_week": {
   "low": 266.82,
   "low_date": "2025-11-21",
   "high": 487.47,
   "high_date": "2026-10-05",
   "sessions": 251,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
    "Massive",
    "Yahoo"
   ]
  },
  "market_value": null,
  "forward_multiple": null,
  "checked_at": "2026-11-10 10:45:40"
 },
 "exhibits": null,
 "mentions": [
  {
   "date": "2026-10-19",
   "slug": "was-last-weeks-ai-selloff-bubble-bursting-price",
   "headline": "Supplier order books held through the AI share slide",
   "url": "https://grantbishop.pages.dev/pieces/was-last-weeks-ai-selloff-bubble-bursting-price",
   "line": null,
   "idea": {
    "id": "W-2",
    "text": null,
    "url": "https://grantbishop.pages.dev/claims/market-pays-less-for-earnings"
   }
  }
 ],
 "note": "Prices on this page are dated market records, shown free during the preview, each confirmed by two independent data providers. None is a recommendation.",
 "license": "Free to cite with a link."
}