TSMC Says Semiconductor Industry Sales Could Grow 10%
TSMC (
TSM), a supplier of Nvidia and Apple, has forecasted an annual revenue growth of 10% for the global semiconductor industry due to the surge in demand for artificial intelligence (AI). The company, which is a major supplier to Apple, has seen strong AI server demand, which has risen 2.5 times from last year. This is considered a "golden age of opportunity with AI," according to TSMC Senior Vice President Cliff Hou. The company also noted that the industry could benefit from a mild recovery in demand for smartphones and PCs, which had slumped due to oversupply.
Hou also suggested that revenue for the foundry sector, which TSMC dominates, could expand at an annual rate of 15% to 20%. In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10% from a previous forecast of more than 10%. The World Semiconductor Trade Statistics has forecasted growth of 13.1% for the global semiconductor market in 2024. TSMC (TSM) estimates second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in AI applications.
Nvidia has also forecast its quarterly revenue above estimates and announced a stock split, lifting shares to a record-high territory and impressing investors who have tripled the chipmaker's market value in the past year on AI optimism.
TSM), a supplier of Nvidia and Apple, has forecasted an annual revenue growth of 10% for the global semiconductor industry due to the surge in demand for artificial intelligence (AI). The company, which is a major supplier to Apple, has seen strong AI server demand, which has risen 2.5 times from last year. This is considered a "golden age of opportunity with AI," according to TSMC Senior Vice President Cliff Hou. The company also noted that the industry could benefit from a mild recovery in demand for smartphones and PCs, which had slumped due to oversupply.Hou also suggested that revenue for the foundry sector, which TSMC dominates, could expand at an annual rate of 15% to 20%. In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10% from a previous forecast of more than 10%. The World Semiconductor Trade Statistics has forecasted growth of 13.1% for the global semiconductor market in 2024. TSMC (
TSM) estimates second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in AI applications.Nvidia has also forecast its quarterly revenue above estimates and announced a stock split, lifting shares to a record-high territory and impressing investors who have tripled the chipmaker's market value in the past year on AI optimism.
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