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.
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“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
