Posted 1/10/2024, 6:34:00 AM
TSMC Beats Q4 Estimates Despite Weak Smartphone Sales, Outlook Buoyed by Strong AI Chip Demand
- TSMC's Q4 revenue beat estimates of a decline, helped by AI chip demand offsetting smartphone and laptop declines
- Sales were flat year-over-year at $5.7B, completing a $625.5B quarter
- Over 2023 TSMC moderated capex plans as consumer electronics grappled with inventory glut
- Revenue declined 4.5% in 2022 to $2.16 trillion, but AI demand boosted high-performance computing business
- Upgrades to AI servers and on-device AI apps expected to drive 2024 IT replacement cycle