The Semiconductor Industry Association International (SEMI) predicts that global wafer equipment spending will increase for three years in a row. Goldman Sachs Securities is optimistic about the demand of the wafer industry and simultaneously revised up its equipment market growth forecast in 2022-2023. Goldman Sachs pointed out that TSMC's expansion of capital spending is the key to the upward demand for wafer equipment, and TSMC plans to invest in the next three years may actually reach $108 billion. Goldman Sachs has recently raised the target price of TSMC to NT $1,014, the highest price forecast for Quan Wang in the market. Goldman Sachs said that with TSMC's original three-year capital expenditure plan of $100 billion, the annual expenditure is expected to be $29 billion, $35 billion and $36 billion in 2021-2023, but the demand for mature and advanced processes is strong, and the U.S. plant may increase expenditure. It is expected that TSMC will revise its expenditure plan, totaling $108 billion. This includes spending $30 billion this year and $38 billion next year and $40 billion next year.