Key Points
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Taiwan Semiconductor Manufacturing Company (TSMC) is set to report its Q2 earnings on July 16, 2023, and is expected to exceed Wall Street’s consensus estimate of $3.83 per share, reflecting a 55% year-over-year increase.
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TSMC, which holds a 73% market share as the world’s largest semiconductor foundry, is raising prices for its advanced nodes by 5% to 10% due to strong demand driven by AI applications.
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The semiconductor industry is projected to reach $1.5 trillion in revenue by 2030, up 50% from previous forecasts.
TSMC’s anticipated earnings results are supported by its strong pricing power and increased demand for its advanced chip process nodes, particularly in artificial intelligence. The company reported a nearly 65% year-over-year earnings increase in Q1 2023 and expects continued growth, with analysts forecasting a 45% jump for Q3.
With TSMC currently up 35% year-to-date, expectations for its Q2 report could position the company for further gains in the semiconductor market, potentially surpassing industry expectations in the upcoming months.
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