TSMC reported a third-quarter revenue decline of 14.6% year-on-year to $17.28 billion, beating the consensus of $17.07 billion. EPS of $1.29 beat the consensus of $1.17. It expects Q4 revenue of $18.8 billion - $19.6 billion vs. consensus of $18.65 billion.
CEO C. C. Wei acknowledged early signs of demand stabilization in the PC and smartphone markets during the analyst conference call. He expects healthy growth in 2024.
TSMC looks to spend $32 billion on growing and upgrading capacity in 2023, above the analyst consensus of $30.5 billion.
Price Action: AMD shares traded higher by 1.53% at $103.72 on the last check Thursday.
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