2023-10-19
TSMC believes migration to N2 driven more by power efficiency. AI at the edge: starting to see silicon area grow again in ~5% range from new neural engines. Too early to discuss LT trajectory about if this silicon size accelerates, but that is the trend...
Bloomberg
TSMC reports Q3 revenue down 14.6% YoY to ~$17.28B, net income down 24.9% YoY to ~$6.5B, and expects to spend $32B on growing and upgrading capacity in 2023
- Sales and capex projections both came in ahead of estimates — World's most advanced chipmaker is struggling with a downturn
Traveling so will keep to key points... TSMC 3Q earnings bullet points: [image]
Bloomberg
TSMC reports Q3 revenue down 14.6% YoY to ~$17.28B, net income down 24.9% YoY to ~$6.5B, and expects to spend $32B on growing and upgrading capacity in 2023
- Sales and capex projections both came in ahead of estimates — World's most advanced chipmaker is struggling with a downturn
TSMC 3Q23 margins better on higher UTR (3nm yields?) + TWD FX. 4Q rev grow +11% QoQ USD, gross margin compression but operating margins not far off vs 3Q. Automotive saw major correction 3Q -24% QoQ on inventory adj but still see growth in 2024....
Bloomberg
TSMC reports Q3 revenue down 14.6% YoY to ~$17.28B, net income down 24.9% YoY to ~$6.5B, and expects to spend $32B on growing and upgrading capacity in 2023
- Sales and capex projections both came in ahead of estimates — World's most advanced chipmaker is struggling with a downturn
Arizona now 1100 employees 1H25 vol production, Japan at 800 2H24 vol prod, China Nanjing fab got BIS approval for continuation. Dresden Germany new fab is 22/28nm, construction beg 2H24 vol prod late 2027....
Bloomberg
TSMC reports Q3 revenue down 14.6% YoY to ~$17.28B, net income down 24.9% YoY to ~$6.5B, and expects to spend $32B on growing and upgrading capacity in 2023
- Sales and capex projections both came in ahead of estimates — World's most advanced chipmaker is struggling with a downturn
On semi industry, seeing early signs of rush orders as signs of inventory improvement. Thinks exit 2023 “healthier”, did not say healthy yet. Mgmt expects TSMC's 2024 will see ‘healthy growth’ but not ready to give # and not sure if we have past bottom alrdy but we are close....
Bloomberg
TSMC reports Q3 revenue down 14.6% YoY to ~$17.28B, net income down 24.9% YoY to ~$6.5B, and expects to spend $32B on growing and upgrading capacity in 2023
- Sales and capex projections both came in ahead of estimates — World's most advanced chipmaker is struggling with a downturn