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
Create account Try a 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
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
