Yesterday, TSMC released its third-quarter performance report. Although many chip manufacturers performed poorly in the third quarter, TSMC really won the game in the third quarter.
data shows that TSMC's revenue in the third quarter was NT$613.14 billion NT$3 (about 138.6 billion yuan), a year-on-year increase of 47.9%, and a month-on-month increase of 14.8%: net profit was NT$280.87 billion (about 63.1 billion yuan), a year-on-year increase of 79.7% and a month-on-month increase of 18.5%.
Not only that, according to industry insiders' predictions, TSMC's revenue in the third quarter will exceed , Samsung and intel, and then become the world's number one semiconductor company, and will also maintain the world's number one position in the fourth quarter.
In fact, TSMC has long been the number one player in the US capital market, as shown in the figure below, as of the 12th, TSMC's market value reached US$332.5 billion, surpassing Nvidia, Broadcom , ASML, etc., and firmly ranked first.
Why did TSMC win? This data needs to be compared, because chip giants such as AMD, Samsung, Micron , Intel , and Nvidia in the same period did not perform well.
For example, AMD recently fell 14% in one day because its performance was far lower than expected. For example, Samsung's profit fell for the first time in three years. According to its preliminary financial report for the third quarter of 2022, Q3 operating profit was 10.8 trillion won, a year-on-year decrease of 31.7%.
Look at Micron again, its revenue in Q3 was US$6.64 billion, down about 20% year-on-year, while its net profit was US$1.49 billion, down 45% year-on-year.
In addition, although Intel and Nvidia did not release Q3 data, the data in the second quarter have already betrayed themselves, which is really terrible. It is impossible to reverse the third quarter.
Q2 Intel's revenue fell by 17%, and its profit fell by 79%. Nvidia's Q2 revenue fell 19%, and its profit fell 72%.
Other chip manufacturers have fallen so badly, why is TSMC still so stable? This has something to do with everyone's division of labor.
Like AMD, Intel, Samsung, Nvidia, Micron, etc., they all have their own chips and sell them to the outside world. They may be IDM or just Fables. The market conditions are not good now and the chips cannot be sold. Of course, the performance has plummeted.
But TSMC is different. It is just a wafer foundry, and it does not have chips, and it does not need to sell chips to the outside world. It helps chip manufacturers produce chips, only looking at whether there are many orders upstream.
. Chip manufacturers need to place orders with TSMC in advance. According to the order situation, it may be possible to have six months to one year in advance.
So although chip companies have fallen so badly, orders have been placed long ago. In addition, because TSMC has advanced technology and customers are rushing to ask for it, the order will not be affected for the time being. Even if customers look for TSMC to reduce the order volume, they may have to lag a little and will not react so quickly.
However, it is estimated that TSMC will not have too many good days. After all, TSMC's revenue in September was NT$2208.248 billion, a month-on-month decline of 4.5%. At the same time, next year, the capacity utilization rate may be between 85% and 89%, lower than the previous expectations of 90%.
