Japan SPE: TSMC results read-across: Demand strengthening further, continues to significantly exceed supply

TSMC, the world's largest foundry, held its 3Q FY12/26 earnings call on October 15 and Goldman Sachs summarizes the key takeaways and read-across for Japanese semiconductor production equipment (SPE) makers. TSMC raised its 2026 sales outlook again, and management said hyperscaler capex, data center construction progress, and the availability of power and components all indicate that demand for advanced processes, mainly for AI applications, is strengthening further and continues to significantly exceed supply;