TSMC CEO lowers estimated global foundry output growth in 2024 and says the automotive industry will see a downward trend

According to news on April 19, TSMC announced yesterday that its consolidated revenue in the first quarter as of March 31, 2024 was NT$592.64 billion, a year-on-year increase of 16.5% and a month-on-month decrease of 5.3%; net profit was NT$225.49 billion. A year-on-year increase of 8.9% and a month-on-month decrease of 5.5%.

TSMC highlighted two major revisions in its earnings call: It lowered its annual growth forecast for the global foundry industry, and the growth outlook for the automotive industry changed from positive to negative.

TSMC CEO Wei Zhejia said in the earnings call that the prospects for terminal applications are basically the same as expected before March, but before The automotive industry was forecast to grow throughout the year, but is now forecast to decline.

From this site’s point of view, the main reason for the above prediction is the slowdown in the recovery of mature process applications and automotive demand.

It was mentioned in the last quarter financial report conference call held in January this year that TSMC is expected to achieve healthy growth in 2024, with revenue growth exceeding the global foundry industry average of 20% and expected to reach 21% to 20%. 26%.

According to the latest financial report conference call, Wei Zhejia believes that the semiconductor market (excluding memory) will grow by 10% year-on-year in 2024, and the growth of the foundry industry is also expected to be around 10%.

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