TSMC Very Optimistic on 2022 Revenue

Taiwan Semiconductor Manufacturing Company (TSMC) expects a 30% rise in revenue this year. The company chairman Mark Liu insists that the rising inflation has not impacted chip production.

Liu explained during the annual shareholders’ meeting that weak demand from the smartphone and PC sectors is more than offset by strong demand from the electric vehicle industry, which forced it to adjust inventories to boost capacity. The growth target is up from a 24.1% increase in 2021 to $56.8 billion.

Liu confirmed the previous Q2 revenue guidance of $17.6 billion to $18.2 billion. It booked revenue of $12.6 billion during the same period a year earlier. He noted the company has no plans to build a chip factory in Europe. In its Q4 earnings call in April, CEO C.C. Wei said the company expected to outperform the industry with mid-to-high- 20% growth in US dollar terms. Revenue in the opening quarter of 2022 grew 35.5% to TWD491.1 billion ($17 billion), surpassing a forecast of 29% to 33%.