TSM · PEAD → 1

TSMC reported Q2 2026 EPS of $4.31 on 2026-07-16, beating the $3.87 consensus by $0.44 (+11.4%).

Print-day reaction was -2.3% versus the prior close — a notable gap down despite the double-digit EPS beat, as the stock opened sharply lower and recouped only part of the loss. The overnight gap to the T+1 open deepened the move by a further -4.3%, indicating continued selling pressure after hours. Over the subsequent two trading days the stock drifted +6.6%, a sharp reversal that nearly reclaimed the pre-earnings close. Cumulative abnormal return of +2.1% versus SPY.US sits between the ±3% thresholds, yielding a PEAD direction of none with conviction 1; the holding window runs through 2026-10-13.