TSMC's second-quarter profit expected to increase by 30% due to high AI chip demand

From Investing.com: 2024-07-14 20:56:03

Taiwan Semiconductor Manufacturing Co is expected to report a 30% increase in second-quarter profit due to high demand for advanced chips used in AI. The company’s net profit is projected to be T$236.1 billion, up from T$181.8 billion in the same period last year. Its stock reached a trillion dollar market value.

TSMC’s revenue for the second quarter exceeded expectations, with President Capital Management Co Chairman expecting a strong outlook for all products in the third quarter. The company plans to update its full-year outlook, including capital expenditure for expanding production. It is investing billions in new factories, particularly in Arizona.

Despite facing little competition, TSMC’s growth is threatened by Intel and Samsung’s efforts to challenge its dominance. The company’s stock has soared 75% this year, outperforming the broader market. TSMC’s strategic investment in advanced technologies is expected to drive further growth and support the market.



Read more at Investing.com: TSMC second-quarter profit seen jumping 30% on surging AI chip demand By Reuters