Taiwan Semiconductor Manufacturing (TSM.US) stocks are gaining about 5.7% before market open, following the company's quarterly earnings. Company forecasts over 20% revenue growth in 2024, driven by demand for advanced chips used in artificial intelligence applications. TSM's CEO C.C. Wei, during the earnings call, highlighted 2023 as a challenging year for the global semiconductor industry but noted the rising demand for generative AI applications. The company expects a growth year in 2024, supported by strong demand for its 3nm and 5nm technologies and robust AI-related demand. For Q1 2024, TSM anticipates revenue between $18B and $18.8B.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appFinancial dashboard Taiwan Semiconductor Manufacturing, data has been converted to USD and may vary slightly.
TSM's executive Chairman Mark Liu mentioned ongoing communication with the US government regarding their Arizona plant, with volume production of 4nm process technology expected in the first half of 2025. The start of production at this plant was delayed to 2025 due to a shortage of skilled workers, and the second Arizona plant is expected to begin operations between 2027 and 2028. Additionally, TSMC plans to open a new chipmaking foundry in Japan on February 24, with volume production set for Q4 2024. This expansion aligns with TSMC's strategy to meet customer needs and government subsidies in a globally fractured environment. The company also plans to start construction of a fab in Germany later this year. Despite a challenging 2023, TSMC anticipates healthy growth in 2024, driven by the demand for AI technology.
Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
