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Being the world's No. 1 foundry, TSMC was almost immune to the softening high-tech market in Q2 and Q3, but it looks like the party is over even for the world's largest contract chip manufacturer. TSMC's leading customers began to revise their orders to the company, affecting the foundry's results starting from the fourth quarter of 2022, reports DigiTimes.
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Due to the slowing economy in China as well as its COVID lockdowns, an economic downturn in numerous European countries, and reduced demand for many products in the U.S., large computer hardware, PCs, and smartphone makers lowered their procurement of new chips from companies like AMD, Intel, MediaTek, and Nvidia. As a result, the fabless chip designers reportedly had no choice but to slash orders to TSMC.
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Market observers generally remain optimistic about the demand for advanced chips returning to normal in 2023. As a result, TSMC is still expected to post revenue growth for the year, but the sales increase may not be as impressive as the 2021 – 2022 period.