TSMC Stock Gains After Q3 Performance - Here's Why
Portfolio Pulse from Anusuya Lahiri
Taiwan Semiconductor Manufacturing Company Ltd (TSMC) reported a Q3 revenue decline of 14.6% YoY to $17.28 billion, beating the consensus of $17.07 billion. The company's gross margin contracted due to lower capacity utilization and higher electricity costs. TSMC, a supplier for Apple Inc and Nvidia Corp, expects Q4 revenue of $18.8 billion - $19.6 billion. The company plans to spend $32 billion on capacity growth and upgrades in 2023.
October 19, 2023 | 12:22 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Apple Inc, a customer of TSMC, could potentially be impacted by TSMC's Q3 performance and future plans.
As a customer of TSMC, Apple's operations could potentially be impacted by TSMC's performance and future plans. However, the direct impact on Apple's stock price is uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Nvidia Corp, a customer of TSMC, could potentially be impacted by TSMC's Q3 performance and future plans.
As a customer of TSMC, Nvidia's operations could potentially be impacted by TSMC's performance and future plans. However, the direct impact on Nvidia's stock price is uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
TSMC reported a Q3 revenue decline but beat the consensus. The company expects Q4 revenue to beat consensus and plans to spend $32 billion on capacity growth in 2023.
TSMC's Q3 revenue decline was expected, but the company beat the consensus, which is a positive sign. The company's plans for capacity growth in 2023 indicate a positive outlook, which could boost investor confidence and potentially drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100