TSMC Posts Strong Q1 2025 Results, 2025 Outlook, Despite Lingering Tariff Concerns

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TSMC Posts Strong Q1 2025 Results, 2025 Outlook, Despite Lingering Tariff Concerns

May 5, 2025

Overview: TSMC reported strong Q1 2025 results with a 35% YoY revenue increase and expects full-year revenue to grow by around mid-20% YoY. Growth is driven by rising AI-related demand, with AI orders expected to see a solid mid-40% CAGR over the next five years. Despite ongoing tariff concerns and volatility in the semiconductor industry, the impact on foundry orders remains limited. TSMC also ruled out a joint venture with Intel’s U.S. fab and confirmed it will keep its most advanced nodes in Taiwan.

Table of contents:

TSMC rules out possibility of a JV with Intel US fab
TSMC’s investment plan in the US for mitigating geopolitical risk
Robust AI demand to weigh on TSMC’s revenue growth
Tariffs provoke strong sentiments, negative effects on orders are relatively limited
We remain positive on TSMC’s long-term leading position in advanced process node

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Author

William Li

William is a Research Analyst in Semiconductor and Components team, based in Taiwan. He has over 8 years of experience in global PC (personal computer) and semiconductor market. Before Counterpoint, he was an equity research analyst at Credit Suisse, focused on both technology and non-technology sectors as well as supporting Taiwan equity market strategy research. Prior, he worked for a Taiwan PE fund as a research analyst covering semiconductor and downstream components sector.