.September 10, 2024 02:07:00 PM

Taiwan Semiconductor Manufacturing (NYSE:TSM) reported a 33% year-over-year revenue increase for August, totaling NT$250.87 billion. Sales dipped 2.4% from July but were significantly higher than August 2023’s NT$188.69 billion. Year-to-date revenue reached NT$1,773.97 billion, up 30.8% from 2023.

JPMorgan analysts are optimistic about TSMC’s strong August sales, anticipating a potential third-quarter earnings beat. They expect steady or improved September revenues, driven by demand for iPhone processors and strong N3 and N5 chip performance. JPMorgan believes TSMC’s Q3 revenue could exceed guidance, with Street estimates for TSM shares likely to rise.

Bernstein analysts highlight TSMC’s monthly sales tracking ahead of consensus for Q3, emphasizing positive momentum. They project TSMC’s revenue to grow by 24% year-over-year in 2025.