“While AI-related demand continues to be strong, it is not enough to offset the overall cyclicality of our business.”
TSMC stock rose after it said that demand for the latest chip technology was helping to offset a glut of semiconductors caused by the fall in demand for consumer electronics.
Taiwan's TSMC on Thursday said profit fell by a quarter in the third-quarter, but said demand was picking up for its advanced semiconductors needed for cutting-edge AI applications.
TSMC posted a third quarter profit of $6.51 billion – its second straight quarter of profit decline – as weak demand for consumer electronics persists.
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Taiwan Semiconductor Manufacturing Co Ltd will report its third-quarter 2023 financial results after the market closes on October 19, with analysts forecasting a 35% year-over-year decline in earning
Taiwan Semiconductor's (TSM) third-quarter 2023 results are expected to reflect gains from its robust technology portfolio amid headwinds.
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TSMC is on track to experience a significant downturn for the full fiscal year. AI is only partly offsetting weakness elsewhere in the business, but perhaps not for long.
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