Technology: TSMC cuts sales forecast – chip values ​​​​on the stock exchange under pressure

2023-07-20 14:58:23

Technology TSMC cuts sales forecast – chip values ​​​​on the stock exchange under pressure

A person enters the headquarters of Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC) in Hsinchu. photo

© Chiang Ying-Ying/AP/dpa

Smartphones and computers are no longer in such demand – TSMC is clearly feeling the effects. The Taiwanese chip maker supplies the big tech heavyweights and is considered a benchmark for the industry.

The world’s largest chip contract manufacturer TSMC meets the global declining demand for smartphones and computers. The Taiwanese group therefore expects a sharper drop in sales this year than before.

Estimates for the current third quarter also fell short of analysts’ expectations. In addition, the start of production at the new plant in the US state of Arizona will be postponed to 2025 due to the lack of qualified workers, as the company announced on the night in Hsinchu. The news also pulled European sector stocks down on the stock exchange on Thursday. TSMC is considered a yardstick for the electronics industry, as it counts tech giants such as Intel, Nvidia and AMD among its customers.

According to management’s new estimates, TSMC’s revenue will decline by 10 percent in 2023. Previously, a single-digit percentage decline in sales had been expected. The management confirmed the investment goal of around 32 billion dollars.

dpa