Apple Supplier TSMC Reports Sixth Straight Quarter of Record Sales
Thanks to an elevated chip demand from Apple and other customers worldwide, Taiwan Semiconductor Manufacturing Co. (TSMC) has reported a sixth straight quarter of record sales, Bloomberg is reporting.
TSMC’s chips are used in everything from iPhones to cars from leading automakers. The company’s revenue for the December quarter soared 21% to $15.8 billion, setting a new record for quarterly sales.
Earlier this month, Goldman Sachs analysts Bruce Lu and Evelyn Yu predicted TSMC’s 2022 sales will grow 26% from a year earlier. “TSMC will grow at a faster pace this year underpinned by price hikes, the ongoing industry upgrade cycle in HPC/5G, and strong demand for cryptocurrency,” they wrote.
Taiwan Semiconductor Manufacturing may report 4Q revenue above $15.6 billion, a new record for quarterly sales and at high end of its $15.4-$15.7 billion guidance, we believe. This is supported by a larger sales mix of its most advanced 5-nanometer (nm) node process amid strong demand for smartphone and high performance computer chips.
Delivery times for chips increased by six days to about 25.8 weeks in December, marking the longest wait time since 2017.