TSMC (2330 TT/TSM) Q3 Guidance: Revenue USD 22.4-23.2bln (vs USD 17.3bln in Q3 2023), Gross Margin 53.5-55.5% (vs exp. 52.5%); Sees 2024 Capex USD 30-32bln (prev. USD 28-32bln); Raises FY24 Revenue guidance, implies USD 87.3-88.0bln (vs exp. USD 85.1bln)
- Expects Q3 business to be supported by strong smartphone and AI related demand.
- Says global semiconductor industry, excluding memory, is to grow by some 10% (vs prev. forecast of 10%)
- Expects 2024 to be a strong growth year for the Co.
- Operating Margin 42.5-44.5% (vs 42.5% in Q2)
- 2024 revenue to increase slightly above mid-20% range in USD terms (vs prev. forecast of increase in low-to-mid 20% range)
- N2 development progressing well; N2 on track for volume production in 2025.
- Says: "our customers are doing very well".
- Have not changed overseas expansion plans.
Analysis details (07:33)
- Top TSMC customers include Apple (AAPL), NVIDIA (NVDA), and AMD (AMD)
18 Jul 2024 - 07:06- ForexImportant- Source: Newswires
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