TSM is trading around $370, up 104% over the past year. Their 2025 earnings jumped 51% to $10.65 per share, outpacing their 36% revenue growth. The main driver is pricing power. They control about 72% of the pure-play foundry market and are expected to keep raising prices for major clients like Nvidia and Apple through 2029. Analysts are projecting a 34% earnings increase this year. Some estimates point to a $500 price target if the company can hit $20 per share in earnings by 2028.