Chip Making Giant TSMC Records Biggest Profit Drop in Five Years
TMSC saw their quarterly profits plunge the highest since 2019. However, the company says that the the PC and smartphone market concerns are abating and chip demand is rising again.
TMSC saw their quarterly profits plunge the highest since 2019. However, the company says that the the PC and smartphone market concerns are abating and chip demand is rising again.
ASML is taking a conservative view of 2024, with revenue projections similar to 2023.
Aside from the popular Apple and Samsung brands, Huawei is probably one of the few other companies that has designed its smartphone processor.
Arm has concluded its debut on the Nasdaq after launching an IPO where shares closed nearly 25% higher on the day.
Amazon is looking to anchor the IPO and has joined Nvidia, Apple, Intel, TSMC, and Samsung in official talks with Arm Ltd.
According to Taiwan’s official Central News Agency, “the rapid growth of the artificial intelligence (AI) market has driven a surge in demand for TSMC’s advanced packaging.”
Reporting a plunge in its Q2 2023 profit, TSMC highlighted that net revenue for the quarter was NT$480.84 billion. This is a 5.5% decrease from the first quarter’s figures which was NT$508.63.
Despite the hurdles, TSMC remains positive about the future as the demand for AI applications rises steadily.
TSMC is also expanding a factory under construction in Arizona to develop better chips for iPhones and subsequently drive sales.
Berkshire Hathaway purchased 225 million of the EV maker’s shares for $230 million in 2008.