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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
The TSMC exhibition area at the 2024 World Semiconductor Conference in Nanjing City, Jiangsu Province, June 5, 2024. /CFP
Chip giant Taiwan Semiconductor Manufacturing Co. (TSMC) is expected to report a 40 percent leap in third-quarter profit on Thursday, thanks to soaring demand for advanced chips used in artificial intelligence applications.
The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from the surge in AI demand.
TSMC is set to report a net profit of $9.27 billion for the quarter ended September 30, according to an LSEG SmartEstimate drawn from 22 analysts. SmartEstimates give greater weight to forecasts from analysts who are more consistently accurate.
That estimate compares to the 2023 third-quarter net profit of about $6.69 billion.
During its quarterly earnings call at 6 a.m. on Thursday, TSMC will update its outlook for the current quarter as well as for the full year, including its capital expenditure as it races to expand production.
On its last earnings call in July, TSMC raised its full-year revenue forecast and adjusted its capital expenditure plans for this year to between $30 billion and $32 billion, compared with a previous forecast of $28 billion to $32 billion.
The AI boom has helped drive up the price of shares in the company, with TSMC's Taipei-listed stock soaring 77 percent so far this year, compared with a 28 percent gain for the broader market.
Once the dominant force in the semiconductor industry, five-decade-old Intel is facing one of its worst periods as losses mount at the contract manufacturing unit it is building out in hopes of challenging TSMC.
(With input from Reuters)