Get ready, tech enthusiasts! 📣 Taiwan Semiconductor Manufacturing Co. (TSMC) is set to announce a jaw-dropping 40% surge in its third-quarter profits this Thursday! 💰✨
Why the big leap? It's all thanks to the skyrocketing demand for advanced chips used in artificial intelligence applications. 🤖💡 With giants like Apple and Nvidia as its customers, TSMC is riding the AI wave to new heights. 🌊🚀
Analysts predict a net profit of a whopping $9.27 billion for TSMC for the quarter ending September 30, up from about $6.69 billion in the same period last year. That's some serious coin! 🤑💸
But that's not all! During their earnings call at 6 a.m. on Thursday, TSMC plans to update us on their outlook for the rest of the year, including plans to ramp up production. 🏭⚙️
Back in July, TSMC boosted its full-year revenue forecast and adjusted its capital expenditure plans to between $30 billion and $32 billion. Talk about ambition! 🎯📈
The AI boom isn't just boosting profits—it's also lighting a fire under TSMC's stock price, which has soared 77% this year! 📈🔥 Compare that to a 28% gain for the broader market, and it's clear TSMC is in a league of its own. 🏆
Meanwhile, industry veteran Intel is struggling to keep up, facing losses in its contract manufacturing unit as it tries to challenge TSMC's dominance. 😬🤷♂️
Stay tuned for more updates after TSMC's earnings call! 🎧📢
Reference(s):
TSMC 3rd-quarter profit to jump by 40% amid rising chip demand
cgtn.com
