“While AI-related demand continues to be strong, it is not enough to offset the overall cyclicality of our business.”
That’s Taiwan Semiconductor CEO CC Wei, commenting after the contract chipmaker reported outcomes.
Taiwan Semiconductor
TSM,
2330,
stated its third-quarter internet revenue fell by 25% to NT$211 billion, as gross sales fell by 11% to NT$546.73 billion ($17.3 billion). According to FactSet, its earnings of $1.26 per U.S.-listed share beat analyst estimates of $1.15.
The Nvidia
NVDA,
provider’s working margin of 41.7% got here in above its personal expectations that ranged from 38% to 40%.
Revenue is predicted to be between US$18.8 billion and US$19.6 billion for the fourth quarter, on an working margin between 39.5% and 41.5%. Analysts polled by FactSet anticipated income of $18.54 billion.
U.S.-listed shares rose 2% in premarket commerce.
“Due to the persistent weaker overall macroeconomic conditions and slow demand recovery in China, customers remain cautious in their inventory control. Thus, we expect the inventory digestion to continue in the fourth quarter. Having said that, we are observing some early sign of demand stabilization in the PC and smartphone end market,” stated Wei, in response to a transcript from S&P Global Market Intelligence.
Source web site: www.marketwatch.com
