Posted 3/8/2024, 6:01:00 AM
TSMC Revenue Grows in Early 2024 Despite Slowing iPhone Sales, Buoyed by AI Chip Demand
- TSMC's revenue rose 9.4% in the first 2 months of 2024 to $12.6 billion
- Growth driven by artificial intelligence and demand for chips used in large language models
- Offsetting potential fallout from slowing iPhone sales which accounted for 25% of 2021 sales
- 2024 outlook projects return to solid growth and potential increase in capital spending
- Second largest customer is estimated to be AMD, making up 11% of sales