TSMC flags 10% fall in 2023 sales, spending at low end of forecast
Taiwanese chipmaker TSMC forecast a 10% drop in 2023 sales on Thursday after reporting a 23% fall in second-quarter earnings as global economic woes dented demand for chips used in applications as varied as cars, cellphones and servers. The world's largest contract chipmaker estimated investment spending for this year at the lower end of a previous estimate of $32-$36 billion amid challenges from rising inflationary costs and an uncertain global economic outlook. Taiwan Semiconductor Manufacturing Co. Ltd. said, however, it expects third-quarter revenue to pick up to around $16.7 billion-$17.5 billion, from $15.68 billion in the previous quarter, and flagged robust demand for its 3nm technology. TSMC late last year began construction of a second chip factory in Arizona which will start production in 2026, using advanced 3 nm technology, supporting Washington's plans for more chip-making at home.
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