Taiwan Semiconductor November Sales Slump 7.5% - Is Global Chip Market Still Not Out Of The Woods?

Taiwan Semiconductor Manufacturing Company Ltd.TSM said November revenues slumped 15.3% from October to NT$206.03 billion (~$6.6 billion). 

Revenue slumped 7.5% Y/Y.

Revenue for January through November 2023 fell 4.1% compared to the same period in 2022.

The sluggishness shows that there's still a way to go before the global chip market stages a full recovery from a prolonged slump, Bloomberg reported.

In October, the main semiconductor supplier for NVIDIA Corporation NVDA and Apple Inc. AAPL forecasted its sales for this quarter of $18.8 billion-$19.6 billion.

On the third-quarter earnings call, CEO C. C. Wei expressed anticipation for the chip market to reach its lowest point "very soon," the report read. 

However, Wei refrained from forecasting a robust recovery, citing uncertainties related to China's struggling economy and increasing trade sanctions from the US, per the Bloomberg note.

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Price Action: TSM shares are trading higher by 0.34% to $99.63 on the last check Friday.

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