Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, reported an 11% drop in revenue to NT$546.7 billion ($17 billion) on Friday. The figures surpassed the average analyst estimate, bolstered by robust artificial intelligence (AI) demand from Nvidia Corp . (NASDAQ:NVDA) and data centers.
The company's sales for September stood at NT$180.4 billion. Despite a slump in the sector and declining chip sales, TSMC's shares have seen an 18% increase this year.
As a bellwether in the tech industry, TSMC's financial performance is closely watched for indications of broader trends. The company is set to release its earnings report on October 19, which could shed light on future trajectories for tech behemoths such as Apple Inc (NASDAQ:AAPL)., particularly amid growing concerns about a slowdown in growth.
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