Wafer foundry leader TSMC (2330-TW)(TSM-US) announced today (10) that its July revenue was 186.763 billion yuan, benefiting from high-efficiency computing and strong demand for automotive applications. Revenue increased by 6.2% month-on-month and 49.9% year-on-year, rewriting the historical high record written in May; The revenue was 1 trillion 211.979 billion yuan, an annual increase of 41.1%.
TSMC estimates that revenue in the third quarter will reach 19.8-20.6 billion US dollars, converted to 1 US dollarNew Taiwan Dollar Calculated at 29.7 yuan, the revenue is estimated to reach 588.06-611.82 billion yuan, which is equivalent to a quarterly increase of 10-14.5%, and the gross profit margin is estimated to be 57.5-59.5%.
In the third quarter, TSMC benefited from the continuous growth in demand for 5nm and 7nm processes. Driven by automotive and efficient budgets, it made up for the slowdown in applications such as mobile phones, PCs and consumer electronics.
US President Biden signed the chip bill on the 9th, and will invest 52 billion US dollars to support the US semiconductor industry. Foreign investors believe that although US wafer manufacturers have subsidies, it is difficult to return to the level of the 1990s, and they cannot rely on subsidies alone to maintain profits unless Intel (INTC-US) and Samsung can catch up with TSMC in terms of execution, otherwise the bill will not change TSMC’s leading position.
Recently, TSMC’s major customers have successively expanded to competitors’ mature production processes, and MediaTek (2454-TW) cooperated with Intel in the field of wafer foundry, and Qualcomm also announced the expansion of orders for GF. As the United States actively encourages the manufacture of semiconductors in the United States, under geopolitical pressure, TSMC’s major customers have gradually strengthened their cooperation with US wafer foundries, and the market will pay attention to the changes in the subsequent order layout.
TSMC said a few days ago that it would release a better-than-expected third-quarter financial forecast, and raised its revenue outlook for this year, maintaining long-term revenue growth and gross profit margin targets. All major foreign investors are looking at it positively, optimistic that even if there are headwinds in the macro environment, short-term The industry is facing inventory correction, but TSMC has a leading position in advanced manufacturing processes, and its long-term operational growth momentum is safe.