“While the company’s declining revenue and profit were disappointing, its long-term growth prospects remain encouraging,” said Brady Wang, associate director at Counterpoint Research.
“The short-term frenzy about the AI demand definitely cannot extrapolate for the long term.
Still, the company’s earnings of 181.8 billion Taiwan dollars ($5.85 billion) for the quarter ending in June beat forecasts.
“We see TSMC well-positioned for a strong growth outlook in 2024,” Goldman Sachs said in a research note.
“We expect a solid 2024-onward outlook on the back of its leading position in AI chip manufacturing,” Citi Research analysts said in a note.
Persons:
”, Brady Wang, Mark Liu, ” Liu, ” Goldman Sachs, “
Organizations:
Taiwan Semiconductor Manufacturing, Counterpoint Research, ”, ” Citi Research
Locations:
Arizona, Taiwan