The world's largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions.
That compares with TSMC's guidance for fourth-quarter revenue between $18.8 billion and $19.6 billion.
"In the fourth quarter, revenue increased 14.4% sequentially [from the third quarter], supported by the continued strong ramp of our industry-leading 3-nanometer technology," said TSMC in its fourth-quarter earnings report.
But analysts say chip inventories at smartphone and PC makers are running down and expect restocking demand to pick up.
In its third-quarter earnings report in October, TSMC said that its business was supported by the industry-leading 3-nanometer technology and higher demand for 5-nanometer technologies, partially offset by customers' ongoing inventory adjustment.
Persons:
TSMC, Brady Wang
Organizations:
Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Samsung Electronics, SK Hynix, Counterpoint Research
Locations:
Taiwan