J P M O R G A N Asia Pacific Equity Research 13 July 2026 TSMC 2Q26 sales reaching high-end of guidance; GM likely to beat TSMC's June revenue reached NT$443bn, up 6% MoM and 68% YoY. Preliminary 2Q26 sales came in at NT$1,270bn, up 12% QoQ and 36% YoY, largely in line with JPMe/Consensus and reaching the high end of 2Q26 USD guidance (US$39.0- 40.2bn). The strong 2Q top-line was primarily driven by sustained datacenter AI momentum. As a result, we expect 2Q26 GM to exceed the high end of guidance (JPMe 69. ...