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# TSMC: 2nm Wafers Can Outperform The Already Strong Ramp In 3nm Wafers (Archive)
- URL: https://www.huntingalphas.com/tsmc-2nm-wafers-can-outperform-the-already-strong-ramp-in-3nm-wafers-archive/
- Published: 2024-09-25T20:28:00.000Z
- Updated: 2026-02-27T17:42:22.000Z
- Description: TSMC’s 2nm wafers can drive a faster, higher-margin growth wave than 3nm ramp.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, Tech, 2330.TW

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- The 2nm wafer technology ramp-up can potentially accelerate revenues and gross margins even more than what was seen in the 3nm ramp-up.
- TSMC is capacity-constrained. Capex investments to alleviate these constraints are positive for long-term growth that is likely to maintain and extend technological and market share leadership.
- Valuations are at a deserved premium vs. historical levels and peers. TSMC has better revenue and earnings growth prospects than before and is increasing its edge as a market leader.
- Relative technicals vs. the S&P500 are bullish as a sharp reaction off weekly support followed by a basing pattern is a recipe for further upside and outperformance.
- Despite the bullish drivers, let's not forget that the semiconductor market is still cyclical. Currently, TSMC's growth is at the upper end of longer-term cyclical growth averages. But the bottom-up drivers are constructive.

Read the full article [here](https://seekingalpha.com/article/4723304-tsmc-2nm-wafers-can-outperform-the-already-strong-ramp-in-3nm-wafers?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*