Analyst: TSMC's August revenue grew 6.2%, but overall market weakness still hurts the company's prospects

TSMC recently released its revenue report for August, showing a significant increase in monthly revenue. It is reported that this is mainly due to orders from Apple and Nvidia, which puts TSMC in a favorable position to achieve its third quarter revenue target

This site learned from the revenue report that TSMC’s August Sales were up 6.2% from July, marking TSMC's second consecutive month of sales growth.

▲ TSMC’s August 2023 revenue report disclosed

TSMC’s performance has changed significantly this year. From a full-year perspective , revenue in most months has declined compared with last year

Matt Bryson, an analyst at the analysis company Wedbush, claimed in the results announcement that

Although TSMC’s revenue performance in the third quarter was relatively solid, it was more There have been few "meaningful" changes in the broader business environment, which is negative for the company's prospects given that the chip market remains weak.

▲ TSMC’s previously disclosed second quarter financial report for 2023

Wedbush did not change its forecast for the September quarter based on the August financial report Revenue expectations. The company still gives TSMC a positive rating, with a target stock price of NT$650 (note on this site: currently about 149 yuan). TSMC’s latest closing price on the exchange was NT$539 (currently about 123 yuan), and the stock price rose by 20.5 %.

However, the analysis company also pointed out that

In the long term, TSMC’s stock price is expected to benefit from the growth of artificial intelligence and electric vehicles, and the growth of such market applications will bring more orders to the company

. Advertising statement: The external jump links (including but not limited to hyperlinks, QR codes, passwords, etc.) contained in the article are used to convey more information and save selection time. The results are for reference only. All articles on the site contain this statement.

The above is the detailed content of Analyst: TSMC's August revenue grew 6.2%, but overall market weakness still hurts the company's prospects. For more information, please follow other related articles on the PHP Chinese website!