Market News

TSM’s December Revenues Disappoint

Taiwan Semiconductor Manufacturing Co (NYSE: TSM) reported its December revenues of NT$192.56 billion, a decline of 13.5% from the month of November. However, on a year-over-year basis, TSM’s revenues registered a growth of 23.9%.

According to a Bloomberg report, the company’s December revenues fell short of analysts’ expectations of NT$636 billion. This indicates that a demand slowdown for electronics could be finally hitting the company hard.

For FY22, the chip giant posted revenues of NT$2,263.89 billion, up 42.6% year-over-year.

Wall Street analysts are bullish about TSM stock with a Strong Buy consensus rating based on five Buys and one Hold.

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