Wafer foundry leader TSMC (2330-TW)(TSM-US) announced today (8) that its revenue in June was 175.874 billion yuan, down about 5% from the previous month. 8.77%, breaking the 500 billion yuan mark for the first time in a single quarter, reaching a new high and surpassing the financial forecast.
TSMC’s revenue in June decreased by 5.3% month-on-month, with an annual increase of 18.5%; the second quarter revenue was 534.14 billion yuan, an annual increase of 43.5%; the cumulative revenue in the first half of the year was 1 trillion 25.217 billion yuan, an annual increase of 39.6%.
TSMC estimates that the US dollar revenue in the second quarter will reach 17.6-18.2 billion US dollars, if 1 US dollar is exchangedNew Taiwan Dollar Calculated at 28.8 yuan, the revenue for the whole quarter is estimated to reach 506.88-524.16 billion US dollars, which is equivalent to a quarterly increase of 3.2-6.7%, the gross profit margin is estimated to be 56-58%, and the profit rate is 45-47%. The double rate is higher than that of the previous quarter. 55.6%, 45.6%.
TSMC benefited in the first quarterNew Taiwan DollarThe actual exchange rate was RMB 27.95 to USD 1, which was favorable to the original estimate of RMB 27.6 to USD 1, making the single-quarter gross profit margin about 0.5 percentage points higher than expected;New Taiwan DollarFurther depreciation, the average exchange rate is also lower than TSMC’s original estimate of 28.8 yuan, and the depreciation breaks the 29 yuan barrier.
The revision of the semiconductor industry has become a consensus in the market. The latest report from TrendForce, a research institute, pointed out that with the expansion of wafer foundries, the utilization rate of mature 12-inch processes will drop from full load to about 95% in the second half of the year. Although advanced processes are also affected by wisdom Influenced by the weak market conditions of mobile phones, but the demand for high-efficiency computing is stable. In response to product mix adjustments, the capacity utilization rate of 7nm and 6nm will drop slightly to 95-99%. The most advanced processes of 5nm and 4nm will be driven by new products. down and maintain nearly full load.
TSMC will hold a legal talk on July 14th. On the eve of the legal talk, the foreign-invested long and short debate will resume. The latest report on foreign investment in the United States supports it. It is optimistic that TSMC will still have a market share advantage in the downward cycle of the industry. Benefiting from the global wave of digital transformation, and maintaining its leading position in technologies such as gate-all-around (GAA) technology, 2.5 and 3D packaging, it reiterated its overweight rating with a target price of 650 yuan. Over head.
In the first quarter, TSMC said that it will raise its revenue growth this year, and it has a chance to exceed the previous estimate of 24-29%.AMD-US), Huida (NVDA-US) Under the adjustment of orders, the market is worried that the semiconductor industry may not be prosperous in the third quarter, and TSMC may also revise its full-year revenue outlook accordingly.