TSMC upbeat on outlook after Q1 profit beats estimates on back of strong AI chip sales
TSMC remains upbeat on its outlook after posting strong first-quarter results. The world's largest contract chipmaker beat expectations to report over US$11 billion in net profit, thanks to booming demand for AI chips from major clients such as Apple and Nvidia. TSMC is maintaining its revenue target of mid-20% growth for this year — a sign that it is confident of weathering the US-China trade war. However, investors are still jittery — TSMC shares are down more than 20% this year, with fears that rising costs and trade tensions could chip away at long-term growth. Victoria Jen reports.
TSMC remains upbeat on its outlook after posting strong first-quarter results. The world's largest contract chipmaker beat expectations to report over US$11 billion in net profit, thanks to booming demand for AI chips from major clients such as Apple and Nvidia. TSMC is maintaining its revenue target of mid-20% growth for this year — a sign that it is confident of weathering the US-China trade war. However, investors are still jittery — TSMC shares are down more than 20% this year, with fears that rising costs and trade tensions could chip away at long-term growth. Victoria Jen reports.
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