TSMC Eyes Steady Growth in Q3

- Advertisement -

Taiwanese chip giant TSMC forecast revenue growth that could be the highest in 10 quarters, saying it was “highly confident” about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles. The outlook from the world’s largest contract chipmaker follows blow-out results for the April-June period that underscored resilient demand amid a chip crunch caused by pandemic-fuelled sales of smartphones and laptops.

TSMC is a major supplier for Apple Inc and the results are also a testament to demand for the iPhone 13 despite record global inflation and worries of a looming recession. They are likely to ease some worries after several chipmakers, including Micron Technology Inc recently sounded the alarm that chip shortages turned it a glut in some sectors, as soaring inflation and China’s COVID-19 curbs have squashed demand for electronics. The results helped European chip stocks including STMicroelectronics, and Infineon, buck a fall in the pan-European STOXX 600 index.

TSMC, whose clients include chip majors such as Qualcomm Inc, also signalled that demand was cooling from consumer electronics customers who would reduce chip stockpiles over the next few quarters into 2023.

- Advertisement -

“After two years of pandemic-driven stay-home demand, this type of adjustment is reasonable in our view,” TSMC’s Chief Executive Officer C C Wei told an online earnings briefing. But he said that long-term demand for TSMC’s chips was “firmly in place” and any upcoming down cycle would not be as big as in 2008. “Despite ongoing inventory adjustment and macro uncertainties, the structural growth trajectory in the long-term semiconductor demand remains firm. We expect our capacity to remain tight and our business to be more resilient.”

Other chipmakers such as Samsung Electronics have also highlighted demand from data-centre customers.

TSMC’s net profit for April-June rose to a record T$237.0 billion ($7.94 billion), above the T$219.13 billion average of 19 analyst estimates.


 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Tata Motors And SBI Come Together For EVs

0
India’s largest Public Sector bank, State Bank of India has joined hands with Tata Motors in the space of electric vehicles. Tata Motors, leader...

Ending The Redundancy In The Indian Charging Space

0
Keen on de-cluttering the home and office space, the government is chewing over the idea of having a common charger for all devices. It...

Kirloskar Introduces Advanced IoT-Based KirloSmart

0
Kirloskar Brothers Ltd (KBL) recently launched an advanced and upgraded version of its IoT-based pump monitoring system, KirloSmart. It is already a first-of-its-kind IoT-based...

Exclusive

Tata Motors And SBI Come Together For EVs

0
India’s largest Public Sector bank, State Bank of India has joined hands with Tata Motors in the space of electric vehicles. Tata Motors, leader...

Ending The Redundancy In The Indian Charging Space

0
Keen on de-cluttering the home and office space, the government is chewing over the idea of having a common charger for all devices. It...

Kirloskar Introduces Advanced IoT-Based KirloSmart

0
Kirloskar Brothers Ltd (KBL) recently launched an advanced and upgraded version of its IoT-based pump monitoring system, KirloSmart. It is already a first-of-its-kind IoT-based...

Important Sectors

Tata Motors And SBI Come Together For EVs

0
India’s largest Public Sector bank, State Bank of India has joined hands with Tata Motors in the space of electric vehicles. Tata Motors, leader...

Ending The Redundancy In The Indian Charging Space

0
Keen on de-cluttering the home and office space, the government is chewing over the idea of having a common charger for all devices. It...

India Semiconductor Mission: India Needs To Do Enough To Sit On The World Table

0
The government’s strong foot forward with regards to the semiconductor space was a much-needed move and, although late, it is expected to herald the...

Kirloskar Introduces Advanced IoT-Based KirloSmart

0
Kirloskar Brothers Ltd (KBL) recently launched an advanced and upgraded version of its IoT-based pump monitoring system, KirloSmart. It is already a first-of-its-kind IoT-based...

Syrma SGS Gets Rs 252 Crores Before IPO

0
With its Initial Public Offering (IPO) opening today, the Electronic manufacturing services (EMS) firm Syrma SGS Technology has already raised Rs 252 crore from...

Manufacturing

Ending The Redundancy In The Indian Charging Space

0
Keen on de-cluttering the home and office space, the government is chewing over the idea of having a common charger for all devices. It...

Syrma SGS Gets Rs 252 Crores Before IPO

0
With its Initial Public Offering (IPO) opening today, the Electronic manufacturing services (EMS) firm Syrma SGS Technology has already raised Rs 252 crore from...

Slow Progress On Solar Parks Irks Ministry

0
Inefficient solar park projects are set to face strict scrutiny from the Ministry of New and Renewable Energy (MNRE). According to two anonymous sources...
Drone

Army Looking For Indigenous Combat Drones

0
In view of the Make in India policy of the Indian government, the Indian Army has launched a programme called ‘Him Drone-a-thon’. Drone Federation...

New Policy Push For Floating Solar Projects

0
A new policy for Solar energy is underway, which would incentivise investment in floating solar power generation. Though the technology needed is expensive, it...