Since February this year, chip giant TSMC has recorded year-on-year growth in monthly sales for the first time in a long time. Buoyed by the news, the company's stock price hit its biggest gain in nearly half a year on Monday. TSMC's chip sales increased year-on-year, also highlighting expectations that the global chip market is gradually recovering from the trough of the epidemic.
Recently, TSMC released a monthly report showing that the company’s October revenue was NT$243.2 billion (approximately RMB 54.8 billion), a month-on-month increase of 34.8% and a year-on-year increase of 15.7%. This is the first time that TSMC has achieved year-on-year monthly sales growth since February.
At the opening of trading on Monday, TSMC’s stock price soared 4.1% on the Taiwan stock market, once setting the largest single-day rise since May. As of press time, the company's share price growth has narrowed slightly to 2.87%.
In the first 10 months of this year, TSMC’s revenue fell by 3.7% year-on-year to NT$1.78 trillion (approximately RMB 401.2 billion).
TSMC CEO Wei Zhejia said last month that after more than a year of post-pandemic downturn,
He noted that the artificial intelligence boom has spurred demand for chips that train large language models, and that TSMC has seen early signs of improving demand in consumer electronics industries such as smartphones and personal computers - one of TSMC's largest businesses.
Wei Zhejia said that given its strong technology leadership and broad customer base, the company is confident of achieving healthier growth in 2024.
TSMC last month predicted that the company's sales in this quarter would reach US$18.8 billion to US$19.6 billion (approximately RMB 137.1 billion to 143 billion yuan), higher than analysts' expectations.
After announcing sales in October, TSMC needs to achieve sales of approximately US$11.7 billion (approximately RMB 85.3 billion) for the remainder of the year to reach the midpoint of this forecast.
Related articles: