TSMC's Sales Outlook Falls Short as Smartphone Demand Stalls
- The iPhone chipmaker forecast revenue below estimates
- It’s still grappling with phone demand and crypto volatility
An Apple iPhone XS Max and iPhone XS phones.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Taiwan Semiconductor Manufacturing Co. forecast revenue below analysts’ estimates, as the sole supplier of Apple Inc.’s iPhone processors grapples with a stalling global smartphone market.
TSMC, which is also struggling with a slowdown in cryptocurrency mining demand, is expecting sales of $9.35 billion to $9.45 billion this quarter, lagging the $9.55 billion average estimate. That’s during a holiday season that often marks peak sales for customers including Apple, whose latest gadgets went on sale last month. For 2019, Taiwan’s largest company also foresees a possible bump in spending -- key to retaining its technological edge -- to as much as $12 billion.