Taiwan’s TSMC is cutting back on investment due to falling demand for chips

Taiwanese chipmaker TSMC warned that first-quarter revenue will fall 5% and annual investment will be cut, as Apple’s main supplier expects demand to fall due to a global economic slowdown.

Thus, the most expensive chip maker in the world reported a profit of 295.9 billion Taiwan dollars against 289.44 billion expected by analysts (1 US dollar = 30.4420 Taiwan dollars).

At the same time, revenue in the 4th quarter increased by 26.7% compared to the same period last year – up to $19.93 billion.

It is forecast that capital investments in 2023 will amount to $32-36 billion compared to $36.3 billion a year earlier.

Meanwhile, Taiwan Semiconductor Manufacturing Co predicts that growth will resume in the second half of this year.