TSMC Slated For Explosive Revenue Growth In 2024 Believes Research Firm

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The Taiwan Semiconductor Manufacturing Company (TSMC) is slated for potentially explosive revenue growth next year, according to estimates from the research firm Omdia. TSMC, like other firms in the semiconductor industry, has been at the center of a slowdown in sales as the market adjusts and recovers from the disruption from the coronavirus pandemic and a tough macroeconomic environment that has affected purchasing powers of both general and corporate customers. However, for TSMC, the trend appears to be reversing, and Omidia's analysis believes that the firm's growth will pick up again next year.

TSMC, which releases monthly revenue figures to provide closer insights into its operations, reported healthy May results that increased optimism about the current state of the firm's market. As the world's leading contract chip manufacturer, the Taiwanese firm is slated to benefit heavily from the current wave of artificial intelligence (AI) products making their way into the hands of businesses. Some analysts believe that this boost, aided particularly by expected good fortune for NVIDIA Corporation, can enable TSMC to recover lost revenue later this year.

The May results showed that TSMC had raked in NT$176 billion in revenue, which marked a 19% sequential growth. Historically, this growth was more than three times the historical growth rates for May - when the firm's revenue typically slows down. Year to May, the revenue shrank by a mere 1.9%, even as chip design firms like Intel continue struggling with a slow market.

Overall, analysts expect that TSMC's revenue for June can drop by