{"id":39033,"date":"2023-07-22T07:12:20","date_gmt":"2023-07-22T11:12:20","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/tsmc-shares-fall-3-3-after-it-cuts-revenue-outlook-delays-production\/"},"modified":"2023-07-22T07:12:21","modified_gmt":"2023-07-22T11:12:21","slug":"tsmc-shares-fall-3-3-after-it-cuts-revenue-outlook-delays-production","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39033","title":{"rendered":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo<\/span>
\n<\/i>\n<\/div>\n

TAIPEI (Reuters) -Shares of Taiwan’s TSMC slumped more than 3% on Friday after the world’s largest contract chipmaker flagged a 10% drop in 2023 sales and said production due to start next year at its first plant in Arizona would be delayed. <\/p>\n

On Thursday, TSMC reported a 23.3% fall in second-quarter net profit – its first on-year drop in quarterly profit since the second quarter of 2019 – as global economic woes take a toll on demand for chips used in everything from cars to cellphones.<\/p>\n

Taiwan Semiconductor Manufacturing Co Ltd’s shares closed down 3.28% on Friday, versus a 0.78% loss for the broader index. <\/p>\n

“TSMC’s Q2 2023 earnings sent mixed signals. While the company’s declining revenue and profit were disappointing, its long-term growth prospects remain encouraging,” Brady Wang, associate director at Counterpoint Research, said.<\/p>\n

“Despite facing macroeconomic headwinds, TSMC’s long-term outlook remains robust, supported by megatrends like 5G and high-performance computing (HPC).”<\/p>\n

As TSMC steps up its global expansion, the company said production at its first plant in Arizona will be delayed until 2025 due to a shortage of specialist workers.<\/p>\n

The company’s earnings of T$181.8 billion ($5.85 billion) for the quarter ended June still beat forecasts and analysts said the revision for full-year revenues was expected. <\/p>\n

“The revenue guidance downward revision could be the last cut for TSMC as the inventory correction cycle is likely coming to an end in 4Q23, in our view, and we see TSMC well positioned for a strong growth outlook in 2024,” Goldman Sachs (NYSE:) said in a research note. <\/p>\n

“We believe the U.S. expansion delay is also well expected by investors.”<\/p>\n

Other analysts were also upbeat on TSMC, thanks in part to strong demand for artificial intelligence (AI), which currently contributes around 6% of revenue.<\/p>\n

“We expect a solid 2024 onward outlook on the back of its leading position in AI chip manufacturing,” Citi Research analysts said in a note. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters) -Shares of Taiwan’s TSMC slumped more than 3% on Friday after the world’s largest contract chipmaker flagged a 10% drop in 2023 sales and said production due to start next […]<\/p>\n","protected":false},"author":1,"featured_media":2931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-39033","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nTSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=39033\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=39033\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-22T11:12:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-22T11:12:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEB6R0AQ_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"537\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=39033#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=39033\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"TSMC shares fall 3.3% after it cuts revenue outlook, delays production\",\"datePublished\":\"2023-07-22T11:12:20+00:00\",\"dateModified\":\"2023-07-22T11:12:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=39033\"},\"wordCount\":350,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=39033#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=39033\",\"url\":\"https:\/\/ifintechworld.com\/?p=39033\",\"name\":\"TSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-22T11:12:20+00:00\",\"dateModified\":\"2023-07-22T11:12:21+00:00\",\"description\":\"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=39033#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=39033\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=39033#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TSMC shares fall 3.3% after it cuts revenue outlook, delays production\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld","description":"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=39033","og_locale":"en_US","og_type":"article","og_title":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld","og_description":"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)","og_url":"https:\/\/ifintechworld.com\/?p=39033","og_site_name":"iFintechWorld","article_published_time":"2023-07-22T11:12:20+00:00","article_modified_time":"2023-07-22T11:12:21+00:00","og_image":[{"width":800,"height":537,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEB6R0AQ_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=39033#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=39033"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production","datePublished":"2023-07-22T11:12:20+00:00","dateModified":"2023-07-22T11:12:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=39033"},"wordCount":350,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=39033#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=39033","url":"https:\/\/ifintechworld.com\/?p=39033","name":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-22T11:12:20+00:00","dateModified":"2023-07-22T11:12:21+00:00","description":"\u00a9 Reuters. FILE PHOTO: A logo of Taiwanese chip giant TSMC can be seen in Tainan, Taiwan, Dec. 29, 2022. REUTERS\/Ann Wang\/File Photo TAIPEI (Reuters)","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=39033#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=39033"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=39033#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"TSMC shares fall 3.3% after it cuts revenue outlook, delays production"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/39033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39033"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/39033\/revisions"}],"predecessor-version":[{"id":39034,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/39033\/revisions\/39034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/2931"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}