TSMC's performance this year will continue to grow slightly.

(Bloomberg)

[Financial Channel/Comprehensive Report] Gao Canming, a well-known Bloomberg writer, showed a chart of the gross profit margin of TSMC and Intel on Twitter. After the two major manufacturers showed a golden cross in 2022, the gross profit rate of TSMC rose in a straight line. It climbed to 62.21% in the fourth quarter of last year, and Intel rose to 42.6% after a sharp drop.

Gao Canming issued an article pointing out that the Russia-Ukraine war, rising interest rates and slowdown in international trade seem to be just a small episode in the progress of TSMC, and will not impact TSMC's global dominance.

Gao Canming wrote in Bloomberg that TSMC, the chip hegemon, has been affected by the global economic downturn. It is expected that the revenue in the first quarter of this year will decrease by about 2.7% compared with the same period last year. This is the first decline in four years.

Although the semiconductor industry is highly cyclical, the previous economic recession caused TSMC to experience double-digit declines in performance, but this time it is impossible.

Please read on...

Gao Canming pointed out that the entire chip industry (excluding memory) is expected to shrink by 4%, while the foundry industry will decline by 3%. TSMC is still expected to achieve slight growth. Supporting TSMC's performance is the world's chip addiction. ).

Gao Canming said that more and more devices are becoming electronic, and even computers need more electronic devices.

Wei Zhejia, president of TSMC, gave a simple example to explain why the chip industry is becoming less and less affected by changes in the economic environment. Wei said that shipments of PCs and smartphones will shrink this year, but chips will rise. will decline, but will still achieve a small increase.

Gao Canming continued to point out that the global economy is unpredictable, and the widespread adoption of artificial intelligence is a niche for the semiconductor industry. The demand for high-speed computing chips in the fields of processing big data, autonomous driving, and AI has replaced smartphones and has become the driving force for TSMC's performance. main part.

Gao Canming concluded that due to TSMC’s still huge capital expenditures and uncertainty about the future, “one day the wheels may fall off TSMC’s wagon, but that day has not yet come, and it will not come for the time being” because TSMC is still producing everyone’s Desperately needed product.

Intel in blue.


TSMC in white. pic.twitter.com/KjlPcJIgov

— Tim Culpan (parody) (@tculpan) January 12, 2023

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