From CNBC:

The Taiwan Semiconductor Manufacturing Company (TSMC) posted better-than-expected profit and revenue despite weaker macroeconomic conditions, with fourth-quarter revenue at 625.53 billion New Taiwan dollars ($19.62 billion) and net income at NT$238.71 billion. CEO C.C. Wei acknowledged a challenging year for the semiconductor industry in 2023 due to macroeconomic conditions. TSMC counts Apple and Nvidia among its biggest clients and produces the most advanced processors in Apple’s iPhones. Chip inventories at smartphone and PC makers are running down, with restocking demand expected to pick up. TSMC expects first-quarter revenue to be between $18 billion and $18.8 billion.
Wei expects TSMC to have a healthy growth year in 2024, supported by strong ramp-up of three nanometer technologies and robust AI-related demand. Analysts note that TSMC’s strong position in AI semiconductors will benefit greatly from the anticipated surge in AI-based PC applications. TSMC currently manufactures 3-nanometer chips and plans to begin mass production of 2-nanometer chips by 2025.



Read more: TSMC Q4 2023 earnings report