Taiwan Semiconductor Manufacturing Company has raised its revenue outlook despite warning of a cyclical downturn in the chip industry and pressures from soaring inflation.
The world’s largest contract chipmaker on Thursday forecast $19.8 to $20.6bn in revenue in the third quarter, a 35.7 per cent increase compared with last year. It increased its full-year growth target to about 35 per cent, up from just under 30 per cent previously.
The bullish outlook comes even as TSMC highlighted rising costs, including for electricity and manufacturing tools, which it said could affect its profitability. It warned that many semiconductor vendors are reducing inventories.
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