TaipeiCorp.com relies on its powerful chip manufacturing technology to manufacture its customers around the world, especially American companies such as Apple , Qualcomm , Nvidia, etc. However, it will be found that TSMC's customer orders are increasingly dependent on US companies, because since TSMC's "cut off supply", the departure of the second largest customer has also taken away a retreat. So what situations does TSMC face? Can TSMC still turn back?
TSMC's change
There is a reason why TSMC can grow into the world's number one chip foundry giant. TSMC founder Zhang Zhongmou has set a development strategy, will not participate in competition among customers, will not interfere at will, and will only do the chip foundry services that you should do.
Based on this cooperation concept, many customers are confident in handing over the order to TSMC. After all, TSMC does not have its own consumer products like , Samsung, and , so there is no need to worry that the confidential chip circuit diagram will be leaked to competitors.
However, TSMC was still involved in unnecessary competition for no reason, and under the requirements of the rules, TSMC chose to give up the cooperation of the second largest customer.
Facts prove that Chinese academician Ni Guangnan is right. Ni Guangnan said bluntly that the core technology cannot be bought and cannot be exchanged. Only by mastering the core technology can you adapt to the situation.
TSMC Chairman Liu Deyin does not think that the loss of cooperation will have any impact, but in reality, TSMC has fallen into a changing situation.
The first and most obvious point is that the dependence relationship between TSMC and US customers has changed. TSMC has leading technological advantages, so in order to pursue the best process, American chip manufacturers will choose to cooperate with TSMC. In this way, the bargaining power is in the hands of TSMC.
When TSMC launched several price increases rules, customers finally chose to cooperate after expressing their dissatisfaction. Because if the cooperation is not agreed, other competitors will have the opportunity to obtain capacity support from TSMC.
However, it is hard to say the subsequent situation, because TSMC lost the retreat brought by the second largest customer under the rules, and almost all high-end chips come from the US market. In addition, the United States has increased its support for Intel and has built a chip industry chain in the United States, hoping to gradually get rid of its dependence on TSMC.
If successful, American companies such as Apple, Qualcomm, AMD can also find Intel found chips in the future. In this way, the dependence relationship between TSMC and US corporate customers has changed, and TSMC cannot do without the US market. The United States has a very clear mind about TSMC and has expressed many concerns about TSMC's advantages in mastering advanced technology. As long as there is a chance, the United States will definitely choose to walk on multiple legs.
Secondly, TSMC has encountered coldness in the capital market. Since the beginning of this year, TSMC's market value has evaporated by 2.8 trillion yuan compared to its peak. Is this performance a downturn in revenue?
On the contrary, TSMC's revenue in the past few quarters and all months has increased significantly year-on-year. Take the third quarter as an example, TSMC achieved consolidated revenue of RMB 138.2 billion, increased by 47.9% year-on-year, and net profit of RMB 63.3 billion, a year-on-year increase of 79.7%.
Such excellent financial results are incompatible with the market value performance. Why is this? It must be caused by many factors, but most of them include changes in market demand caused by rules.
The semiconductor market has changed from chip supply and demand to overcapacity. Many customers are adjusting inventory and reducing the number of chips in orders, so investors' mood is also affected. The consequences of TSMC's "stopping supply" have emerged, and it has become more dependent on the US market in a subtle way. The changes in market value reflect the willingness of the capital market.
Due to problems such as declining chip demand, TSMC plans to shut down several EUV lithography machines and reduce capital expenditure by US$4 billion this year. All the performances show that TSMC needs to make changes.
Can TSMC still turn back?
What the United States wants to do is Sima Zhao's heart, and everyone knows it.Although the United States has great sincerity for inviting TSMC to build factories many times, the real support target of the United States is Intel.
leads TSMC to the United States to build factories, and then reduces its dependence on them and builds a closed-loop chip industry chain. Will TSMC still successfully obtain orders from US companies? Maybe in order to increase the bargaining power, American companies will hand over some orders to Intel.
If TSMC continues to move forward, things are likely to develop in these directions.
So can TSMC still turn back? This depends on what kind of global layout TSMC has.
The United States wants to build its own chip industry chain and regard TSMC as a "tool" to supplement the closed loop of the industrial chain. After the tools are used up, they will naturally be placed aside, and they will not care at all if they are not needed. So what TSMC needs to do is to expand its technological advantages and factory construction scope to all parts of the world.
As long as the chip industry chain can be prevented from concentrating in the United States, it will be difficult for the United States to succeed and it can also prevent the increase in the cost of chip manufacturing. Currently, TSMC has built a factory in Japan and wants to rush to India and Germany for inspection, which shows that TSMC has realized the problem.
Globalization is TSMC's best way out and a way to go back. If we can go further and win cooperation orders from the second largest customer, then the chips in TSMC will be thicker.
However, there will be no big change in the short term. TSMC still needs to continue to move forward on the road of globalization.
written at the end
TSMC has very big technical advantages, providing top-level chip foundry services to major chip customers around the world. At the same time, its huge production capacity makes TSMC stand out in the competition. However, TSMC was still led to the United States to build factories, losing the second largest customer order and the retreat behind it. How to get rid of the current situation depends on TSMC itself.
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