(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. posted monthly revenue that suggested June-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the pandemic and U.S. curbs on No. 2 customer Huawei Technologies Co.
Apple Inc.’s main iPhone chipmaker reported sales of NT$120.88 billion ($4.1 billion) for June on Friday. That likely means TSMC’s revenue grew about 29% to NT$310.7 billion last quarter, based on previously reported figures, beating the NT$308.8 billion analysts expect on average.
TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its 2020 revenue outlook to reflect potentially the biggest global economic crisis since the Great Depression. But it said at the time it still expects robust demand for the semiconductors in datacenters hosting an unprecedented surge in online activity during the pandemic. Executives forecast revenue growth of about 30% in the June quarter while sticking to a goal of $15 billion to $16 billion for capital spending in 2020, up from last year’s $14.9 billion.
What Bloomberg Intelligence Says
Sales of Asian contract chipmakers TSMC, SMIC and others may beat consensus in 2H despite the longer-than-expected Covid-19 pandemic, due to rising semiconductor demand for cloud processing and video conferencing amid social-distancing requirements.
- Charles Shum, analyst
Click here for the research.
In the longer term, the chipmaker will still have to contend with uncertainty as Covid-19 spreads across the globe, particularly as signs emerge of a second wave. TSMC however is considered relatively more resistant to a downturn thanks to a commanding position in the production of high-end chips needed for everything from datacenters and gaming to video streaming.
It’s also the primary producer of cutting-edge chips for Huawei, but the Trump administration’s ban on the use of American chipmaking gear for the Chinese company threaten a business relationship that accounts for about 14% of TSMC’s revenue.
Read more: Huawei Sees Dire Threat to Future From Latest Trump Salvo
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.
"chips" - Google News
July 10, 2020 at 01:06PM
https://ift.tt/3gKpqgM
TSMC Sales Shine After Virus Drives Demand for Datacenter Chips - Yahoo Finance
"chips" - Google News
https://ift.tt/2RGyUAH
https://ift.tt/3feFffJ
Bagikan Berita Ini
0 Response to "TSMC Sales Shine After Virus Drives Demand for Datacenter Chips - Yahoo Finance"
Post a Comment