TSMC reported a sharp increase in revenue in November. This is partly due to orders for chips for high-performance smartphones such as the Apple iPhone. It is noted that revenue for November amounted to 222.71 billion new Taiwan dollars ($7.27 billion), which is 50.2% more than last year.
The company has been able to weather a slump in the chip market amid rising prices, fears of a global recession and Covid-related restrictions in China. The November earnings report allows TSMC to reach its previously announced fourth-quarter revenue of $19.9 billion to $20.7 billion. TSMC posted revenues of about $14.1 billion in October and November.
Analysts said TSMC’s financial success during this period was driven by “high-end smartphones” using high-performance, expensive processors such as those from Apple and Qualcomm. Orders for HPC chips also had a positive impact.
However, analysts are concerned about weaker orders next year, which will weigh on TSMC’s bottom line going forward.
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“The real test for the company will be” the first half of 2023, said Xie Ho Ng, an analyst at China Renaissance investment bank.
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