TAIPEI: Taiwanese chipmaker TSMC reported a smaller-than-anticipated 25 % decline in third-quarter net profit on Thursday( Oct 19 ) and said it sees signs of stability, raising hopes that the semiconductor industry is on track for recovery.
The largest lease chip manufacturer in the world was optimistic about the coming year, forecasting healthy growth and a decline in business stock levels.
Two of the tech giant’s main business drivers — personal computers and smartphones — are anticipated to be the main drivers of its recovery, with demand for advanced chips and packaging from TSMC also expected to remain strong due to the growth of artificial intelligence.
TSMC is anticipated to” do better than the general market” in 2024, according to CEO C. E. Wei, during an earnings briefing.
Stock controls have become” more good than we thought ,” and” in these couple of months, we have started to notice need stabilize in the Computer and smartphone close market.”
Do we currently notice the bottom? It is too early to call it a strong rise, Wei continued, adding,” quite close.”
As TSMC’s principal dealer ASML warned of smooth 2024 sales on Wednesday, citing chipmakers’ prudence in new funding, investors have been closely monitoring for any signs to better assess the strength of any healing.