Modification of TSMC's revenue forecast for this quarter, expecting 10%, only in this quarter, with respect to the same period last year.

The technology market is slowing down at a general level and this is corroborated by TSMC, which has modified the revenue growth for this year by 10%, compared to the 15% that it initially estimated. The two main factors of this modification is that the smartphone market is suffering a decrease in demand, especially in the high-end range due to increasingly abusive prices and the cryptocurrency market, since some coins do not want that ASICs enter their blockchains and change the protocol to avoid the mining monopoly.

CC Wei, the co-CEO of TSMC, has said that they will possibly grow by about 10% in this second quarter, compared to the same quarter last year. This figure is lower than what they had forecast, among others, because the demand from the smartphone market is lower than expected. It should be noted that the company's revenues fell 10.6% during the first quarter, compared to the first quarter of last year.

It is expected within the company, that in this second quarter, revenues will fall 7-8% sequentially with a gross margin that should fall 50%. This is also driven by a time when the cryptocurrency market does not want a monopolistic market, as is the case with Bitcoin and many cryptocurrencies change their protocol to combat ASICs, such as Monero and possibly Ethereum going to PoS, to prevent a few take most of the tokens.

Wei wanted to highlight that TSMC is the leader in 7nm manufacturing within the industry, in terms of performance, power, and areal density, as well as its roadmap. The company expects this manufacturing node to account for 20% of revenues in the fourth quarter of the year and to account for 10% of the company's revenues this year.

Source: fudzilla