TSMC Sees Signs of Demand Stabilization and Predicts Possible Chip Industry Recovery in 2024 Despite Uncertainty

TSMC projects revenue ahead of estimates and sees signs of demand stabilization in PC and smartphone markets.

Company predicts chip industry could recover going into 2024, though uncertainty remains around China.

TSMC reports better-than-expected Q3 profit of $6.5 billion.

Long-term, TSMC is investing heavily in new chip plants globally, including a $40 billion site in Arizona.

Supply chain companies like ASML and Murata see initial signs of a bottoming in the chip market.