In a conference call to discuss its profits, TSMC, Apples’ main supplier stated that although its net income reached record highs (76.4 percent year over year), there is currently “over inventory in the semiconductor supply chain” due to declining demand for PCs, smartphones, and other consumer products. Before things balance out, the chipmaker believes it will take “a few quarters.”
TSMC CEO C.C. Wei said, “Our suppliers have been facing greater challenges in supply chains, which are extending tool delivery times for both our advanced and mature nodes.”
He added, “Now let me talk about TSMC’s long-term growth outlook. While macroeconomic headwinds bring near-term uncertainties that may persist, we believe the fundamental structural growth trajectory in the long-term semiconductor demand remains firmly in place,”
According to TSMC, demand for cutting-edge 5-nanometer and 7-nanometer chip technology will support its operations through the end of this year. The upcoming iPhone from Apple might be a game changer for the company.
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