The more moderate projection suggests TSMC, like its rivals across the electronics industry, remain cautious in the face of a cratering in consumer spending and an uneven post-Covid Chinese economic recovery. The Taiwanese chip linchpin has said previously semiconductor demand is likely to improve in the latter part of this year, after PC, server and smartphone makers digest inventories.
Taiwan Semiconductor Manufacturing Co. tempered its outlook for 2023 capital spending, as the main chipmaker to Apple Inc. grapples with soft demand for smartphone and computing chips.
Its capital expenditure should wind up closer to the bottom end of a previously forecast US$32 billion ($43.16 billion) to US$36 billion range, Chairman Mark Liu told reporters after hosting the firm’s annual shareholders’ meeting on Tuesday. TSMC reaffirmed projections for revenue in the first half of 2023 to decline by about 10% in US dollar terms.
