The stock is up 8% (8, very auspicious in Chinese numerology) in late pre-market trade. The stocks of both customers, Nvidia and Apple, are up over 2%.
From Reuters via Yahoo Finance, January 18:
Taiwanese chipmaker TSMC projected on Thursday more than 20% growth in 2024 revenue on booming demand for high-end chips used in artificial intelligence (AI) applications even as the broader industry deals with weak smartphone and electric vehicle sales.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc and Nvidia supplier, said at an earnings conference that AI represented a major opportunity.
"We are a key enabler for AI applications. So far today, everything you saw for AI comes from TSMC," CEO C.C. Wei said at the conference, after the company reported a fourth quarter net profit that beat market expectations.
For advanced packaging, demand was very strong and TSMC can't offer enough capacity to support customers, which will continue to next year, he added.
But Wei said that for the industry overall, he was worried about over-capacity for mature nodes.
"There might be too much capacity being built right now for mature nodes. So the concern on over-capacity is valid," he said, though he added that it was not a concern for TSMC due to strong customer demand for its speciality technologies....
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