Advertisement
Canada markets close in 19 minutes
  • S&P/TSX

    21,596.36
    +8.48 (+0.04%)
     
  • S&P 500

    5,485.95
    +12.72 (+0.23%)
     
  • DOW

    38,821.87
    +43.77 (+0.11%)
     
  • CAD/USD

    0.7289
    +0.0000 (+0.00%)
     
  • CRUDE OIL

    81.41
    +1.08 (+1.34%)
     
  • Bitcoin CAD

    88,344.23
    -3,326.05 (-3.63%)
     
  • CMC Crypto 200

    1,319.45
    -69.96 (-5.04%)
     
  • GOLD FUTURES

    2,344.30
    +15.30 (+0.66%)
     
  • RUSSELL 2000

    2,026.66
    +4.65 (+0.23%)
     
  • 10-Yr Bond

    4.2170
    -0.0620 (-1.45%)
     
  • NASDAQ

    17,868.29
    +11.27 (+0.06%)
     
  • VOLATILITY

    12.43
    -0.32 (-2.51%)
     
  • FTSE

    8,191.29
    +49.14 (+0.60%)
     
  • NIKKEI 225

    38,482.11
    +379.67 (+1.00%)
     
  • CAD/EUR

    0.6786
    -0.0001 (-0.01%)
     

TSMC sees annual sales growth to reach 10% in semiconductor industry

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu

HSINCHU, Taiwan (Reuters) -Taiwanese contract chipmaker TSMC, a major supplier to Apple and Nvidia, on Thursday forecast an annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.

"This is a new golden age of opportunity with AI," said senior vice-president Cliff Hou, who was speaking at an event in Hsinchu, where the company is headquartered.

In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10% from a previous forecast of more than 10%.

World Semiconductor Trade Statistics has forecast growth of 13.1% for the global semiconductor market in 2024.

ADVERTISEMENT

TSMC has estimated second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in artificial intelligence applications (AI).

Nvidia forecast on Wednesday its quarterly revenue above estimates and announced a stock split, lifting shares to a record-high territory and impressing investors who have tripled the chipmaker's market value in the past year on AI optimism.

(Reporting By Faith Hung; Editing by Anne Marie Roantree, Kim Coghill and Sherry Jacob-Phillips)