TSMC, which has been experiencing tight production capacity and rising prices, has finally been "short" by institutions.
Just this week, industry insiders said that TSMC will increase prices by 6% for most processes starting in January next year.
Goldman Sachs Securities yesterday believed that as terminal demand fluctuates, TSMC’s 8-inch and 12-inch wafer fab capacity utilization rates will drop to 89% and 91% respectively next year.
Echoing this, TSMC’s share price has been weak in recent months. TSMC’s latest market value is US$433.8 billion, which has fallen by more than 40% from its high at the beginning of this year.
Previously, many European and American securities firms believed that excessive chip inventory would cause the capacity utilization rate of wafer foundries with mature technology to decline in the second half of the year.
However, the leading TSMC has always emphasized that demand is strong. Recently, TSMC Chairman Liu Deyin also said that the demand for automotive and high-performance computing is stable, and some exceed supply capabilities. TSMC's capacity utilization rate is still very high.
Goldman Sachs is the first brokerage to believe that TSMC's capacity utilization will decline.
One of TSMC's largest customer groups, mobile phone chip manufacturers, has continued to face the problems of high inventory and declining demand in the smartphone industry this year.
Despite this, Goldman Sachs is still optimistic that TSMC can increase prices, and it is expected that TSMC can still maintain a growth rate of 14.2% in 2023.
C114 Communication Network Nanshan
