With new forecast
Chip leader TSMC dampens investors’ hopes
The industry leader in the chip industry is dampening investor expectations: In view of the problems in the smartphone and laptop market, the world's largest chip manufacturer TSMC expects the semiconductor industry to perform more weakly this year than recently.
The market excluding memory chips is expected to grow by around 10 percent in 2024 compared to the previous year, said TSMC CEO C. C. Wei in a conference call with analysts on the occasion of the first quarter figures presented on Thursday in Hsinchu, Taiwan.
The industry leader had previously expected growth of more than 10 percent. This means that even the production manufacturers, which include TSMC, are unlikely to grow as strongly as previously expected. The semiconductor industry is suffering from its customers' destocking coupled with the lack of consumer confidence.
However, 2024 should still be a year of growth for TSMC, emphasized Wei, who also reaffirmed the company's investment plans for the current year. The sales targets presented on Thursday for the current second quarter exceeded analysts' expectations.
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