Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 50% increase in November sales, a month challenged by slumping consumer electronics demand and the Chinese Communist Party’s quixotic “Zero COVID” disruptions in China rippled throughout the supply chain.
The world’s biggest maker of made-to-order chips reported revenue of NT$222.7 billion ($7.3 billion) for the period, adding to a long streak of increasing sales that was supercharged by a spike in demand during the pandemic. The company is also the exclusive supplier of Apple Inc.’s Silicon chips for iPhones and Macs.
TSMC shares are down more than 20% this year after more than doubling during the pandemic. The global economic slowdown has diminished consumer demand for many products that TSMC chips go into, but the company and its customers still expect the long-term trend in electronics demand to keep going up. TSMC has committed to spending roughly $36 billion in capital expenditure this year.
MacDailyNews Take: Imagine if they’d not had to deal with the ripple effects from the insane CCP “Zero COVID” headwinds in China!
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