Top Chipmakers Forecast Revenue Growth as AI and Consumer Product Demand Rebounds: Report
Portfolio Pulse from Anusuya Lahiri
Top chipmakers, including Applied Materials (AMAT), Taiwan Semiconductor Manufacturing Co (TSM), and ASML Holding NV (ASML), forecast revenue growth due to increased AI and consumer product demand. AMAT projects significant revenue for the May-July quarter, driven by high bandwidth memory used in AI computing. Despite a previous downturn, the market shows signs of recovery.
May 23, 2024 | 11:24 am
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NEUTRAL IMPACT
ASML Holding NV (ASML) has a negative quarterly forecast but expects a stronger recovery in demand in the second half of the fiscal year.
ASML's negative quarterly forecast suggests a neutral short-term impact on its stock price, but the expectation of a stronger recovery in the second half of the fiscal year could mitigate negative sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Applied Materials (AMAT) forecasts significant revenue growth for the May-July quarter, driven by increased demand for AI-related products and DRAM memory semiconductors.
AMAT's revenue projection between $6.25 billion and $7.05 billion for the May-July quarter, along with increased factory utilization rates and demand for AI-related products, indicates a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Taiwan Semiconductor Manufacturing Co (TSM) is expected to benefit from increased AI demand and China's efforts to build a self-sufficient chip industry.
TSM is likely to see positive short-term impact due to increased AI demand and China's push for a self-sufficient chip industry, which should drive revenue growth.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80