Taiwan-based TSMC is already the largest player in the semiconductor contract manufacturing services market, but Samsung Electronics and Intel surpass it in terms of revenue. According to experts, by 2024 TSMC will be able to increase its revenue to $ 95,1 billion and bypass these rivals.

Analysts of Citigroup are convinced of this, to whom the Bloomberg agency refers. The success of TSMC’s business, in their opinion, will be facilitated by the active expansion of production capacities, on which the company is ready to spend up to $ 100 billion in the next three years. The demand for high-performance processors and components for 5G networks will provide TSMC with steadily growing revenue. This year alone, the company is going to allocate up to $ 28 billion for capital expenditures.

TSMC published its March financial statements this week. In the third month of this year, it earned $ 4,54 billion, which is 21,2% more than in February, and in an annual comparison, the increase was 13,7%. These results already allow us to predict quarterly revenue – it grew by 17% YoY to $ 12,7 billion. This is a record amount of quarterly revenue for TSMC, it turned out to be slightly higher than analysts’ expectations. In their opinion, the company’s business in the first quarter was supported by the continued high demand for components for PCs and servers, as well as the growing shortage of chips in the automotive segment. According to TSMC’s management, already last year the company’s production facilities were operating at over 100% utilization.