TSMC records 17.5% jump in sales
Sales rose to NT$410.7 billion ($13.1 billion) in April. Analysts, on average, expect TSMC’s June-quarter revenue to rise 35 percent. The Taiwanese company has become an essential player in the global AI industry by making cutting-edge semiconductors for companies like Nvidia Corp and Advanced Micro Devices Inc. Alphabet Inc, Amazon.com Inc, Meta Platform Inc and Microsoft Corp have said they are setting aside $725 billion for AI this year, much more than previously expected.
TSMC remains bullish on global AI chip demand.
In April, TSMC raised its full-year sales guidance and said its capital spending should move toward the upper end of its current forecast range of $56 billion, showing confidence in the year’s economic outlook. It is also exposed to a stagnant smartphone and consumer electronics market, where rising memory chip costs are forcing brands to raise prices.
Sony: Will buy back 230 million shares
Sony said Friday it would spend up to 500 billion yen to buy back 230 million shares. Additionally, Taiwan Semiconductor Manufacturing and Sony Semiconductor Solutions Corporation are planning to form a joint venture to produce next-generation image sensors.
According to a joint statement, Sony will be the controlling shareholder and will set up production lines at its newly constructed fab in Kumamoto Prefecture.
Meanwhile, the group’s shares eased losses and rose 1 percent in Tokyo. Investors are also worried about the impact of rising memory-chip prices and disruption to supply chains from the Iran war, which will hit margins at electronics makers including Sony and peer Nintendo, which also reported Friday.
Sony estimates annual sales for its gaming business will fall 6 percent to 4.42 trillion yen ($28 billion) as hardware sales decline due to the aging of the PlayStation 5 and the industry grapples with rising memory chip prices.
However, the Japanese company said it expected gaming profit to grow 30 percent due to higher sales of first-party software and the absence of an impairment loss recorded a year ago.
