TSMC rises after reporting that sales grew 17% in October, the slowest pace since February 2024
TSMC shares are up on Monday after the company reported a 16.9% rise in sales for October.
That was its slowest pace since February 2024 — adding to the debate on whether the global AI complex can continue its breakneck growth — but it broadly matches analyst expectations.
Last month’s revenue came at $11.9 billion (NT$367 billion). For the current quarter, analysts are expecting sales to increase 16% year on year (estimates compiled by Bloomberg), down from the whopping 41% growth in Q3.
Despite last week’s slump in Asian tech shares, which mildly affected TSMC, the chip supplier has been riding an AI- and semiconductor-powered rally, up more than 40% so far this year. The firm counts a swath of Big Tech names on its client list, including Nvidia, AMD, and Qualcomm, with Nvidia CEO Jensen Huang saying over the weekend that he has asked TSMC for more chip supplies, as demand remains strong.
Last month’s revenue came at $11.9 billion (NT$367 billion). For the current quarter, analysts are expecting sales to increase 16% year on year (estimates compiled by Bloomberg), down from the whopping 41% growth in Q3.
Despite last week’s slump in Asian tech shares, which mildly affected TSMC, the chip supplier has been riding an AI- and semiconductor-powered rally, up more than 40% so far this year. The firm counts a swath of Big Tech names on its client list, including Nvidia, AMD, and Qualcomm, with Nvidia CEO Jensen Huang saying over the weekend that he has asked TSMC for more chip supplies, as demand remains strong.
