[News] TSMC Returns to Growth Track This Year, Revenue Target Challenges USD 82 Billion with Over 15% YoY Increase

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TSMC is expected to return to a growth trajectory this year, benefiting from the global semiconductor industry’s recovery, the completion of terminal inventory destocking, and the continuous explosion of AI applications.

According to the report from Economic Daily News, entering 2024, the industry generally holds optimistic views on TSMC’s potential to shake off the operational downturn and restart growth.

TSMC consistently refrains from commenting on analysts’ financial forecasts. When addressing first-quarter outlook issues earlier, the company indicated that it usually provides comments on the business outlook for 2024 during the January earnings conference.

However, TSMC President C.C. Wei mentioned at a supply chain management forum in December of last year that due to external factors such as high inflation and ongoing cost increases, there is still uncertainty for 2024. Nevertheless, with the rapid development of AI applications, 2024 is expected to be a year full of opportunities.

Additionally, during the earnings conference in October of last year, TSMC had forecasted that demand for 3nm technology is better than three months ago, contributing to the company’s healthy growth in 2024.

Industry sources point out that TSMC is expected to benefit this year from the diversified growth in end applications of major customers such as Apple, NVIDIA, and AMD. The global increase in the production value of GPUs is considered the primary driving force.

Simultaneously, the diverse development of customized AI accelerators and Application-Specific Integrated Circuits (ASICs) also contributes to the company’s operations. TSMC’s full-year USD revenue is expected to surpass the USD 80 billion mark for the first time, with a yearly growth rate of approximately 14% to 16%.

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(Photo credit: TSMC)