TSMC reported a sharp increase in revenue in November. This is partly due to orders for chips for high-performance smartphones such as the Apple iPhone. It noted that revenue for November amounted to 222.71 billion New Taiwan dollars ($7.27 billion), which is 50.2% more than last year.
The company managed to ride out a slump in the chip market amid rising prices, fears of a global recession and restrictions in China linked to Covid. The November earnings report allows TSMC to meet its previously announced forecast for the fourth quarter – revenue in the amount of $19.9 billion to $20.7 billion. In October and November, TSMC’s revenue was about $14.1 billion.
According to analysts, TSMC’s financial success during this period was contributed by “high-end smartphones” that use high-performance and expensive processors, such as chips from Apple and Qualcomm. Orders for chips for high-performance computing also had a positive impact.
At the same time, analysts are concerned about weaker orders next year, which will affect TSMC’s revenue going forward.
Course
TEAM MANAGEMENT
Gather your dream team and lead them towards a common goal.
REGISTER!
“The real test for the company will be” the first half of 2023, according to China Renaissance investment bank analyst Se Ho Ng.
Source: cnbc