- Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) reported a September revenue growth of 36.4% year-on-year to NT$208.25 billion.
- Revenue for January through September 2022 totaled NT$1.64 trillion, up 42.6% Y/Y.
- Revenue for the third quarter grew 48% Y/Y to NT$613 billion ($19.4 billion), above the consensus of NT$603 billion, Bloomberg reports.
- The report noted that rising revenue at Apple Inc’s (NASDAQ:AAPL) most crucial chipmaker signals that the most prominent players in the $550 billion semiconductor industry may bypass the severe downturn helped by resilient demand for electronics products.
- Apple backed off plans to increase production of its new iPhones, raising questions about underlying electronics demand.
- Samsung Electronics Co, Ltd (OTC:SSNLF) expects Q3 FY22 sales of 76 trillion Korean won versus actual sales of 73.98 Korean won in Q3 FY21.
- Samsung expects operating profit likely to drop nearly 32% to 10.8 trillion won compared to the same period last year.
- Other chipmakers, including Micron Technology, Inc (NASDAQ:MU), warned against a tougher market as inventories build up and order cut by the data center and consumer tech clients.
- Price Action: TSM shares closed lower by 0.17% at $74.35 on Thursday.
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