Taiwan Semiconductor's December Revenue Slumps Sequentially As China's COVID Chaos & Macro Headwinds Weigh - Taiwan Semiconductor (NYSE:TSM)

Taiwan Semiconductor Manufacturing Company Ltd's TSM December revenue of NT$192.56 billion declined 13.5% month-over-month. The revenue grew by 23.9% Y/Y.
Revenue for January through December 2022 totaled NT$2.26 trillion, up by 42.6% Y/Y.
TSMC's Q4 revenue grew 43% Y/Y to NT$625.5 billion ($20.6 billion), marking its first quarterly revenue miss in two years, signaling the global decline in electronics demand is starting to catch up with the chip giant, Bloomberg reports. TSMC's Q4 revenue missed the consensus of NT$636 billion.
The exclusive supplier of Apple Inc's AAPL Silicon chips for iPhones and Macs slashed capital spending plans by about 10% to $36 billion in 2022, and some analysts have warned it may further delay expenditure on expansion in 2023.
Apple had to trim output estimates after COVID-related chaos at a plant in Zhengzhou, probably affecting TSMC's production.
In December, TSMC started mass production of next-generation chips and increased its investment in Arizona to $40 billion.
Although the global economic slowdown has diminished consumer demand, TSMC and its customers still expect the long-term trend in electronics demand to keep going up, the report adds.
Price Action: TSM shares closed higher by 2.87% at $80.31 on Monday.
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