Jun 09, 2017 Government & Politics Comments Off on TSMC sales rebound in May from April doldrums
Taipei--Taiwan Semiconductor Manufacturing Co. (TSMC, ???) sales rose sharply in May from the previous month but only remained about even with the same period a year earlier, the company said in a statement Friday.
The world's largest contract chip maker said its consolidated sales in May rose about 28 percent from April to NT$72.80 billion (US$2.42 billion), but were down 1.1 percent from May 2016 figures.
In the first five months of the year, TSMC, which is believed to be supplying the A11 processor for next generation iPhone production, had consolidated sales of NT$363.58 billion, up 5.7 percent from a year earlier.
Analysts said TSMC benefited from clients rebuilding their inventories in May to reverse April's downturn, and they expected sales growth momentum to continue in June.
In April, TSMC's consolidated sales fell 30 percent from the previous month to a 37-month low because of seasonal weakness in the semiconductor sector.
But while the sales drop caught the market off guard, the chip maker decided to leave its second quarter sales guidance unchanged at between NT$213 billion and NT$216 billion, down 8-9 percent from the first quarter.
The decision not to revise its second quarter guidance led the market to think TSMC's sales would recover in May and June, especially considering TSMC's reputation for providing realistic forecasts.
The May figure served as proof of a rebound in TSMC's sales, analysts said, and with the current quarter soon coming to an end, clients' moves to rebuild their inventories to meet demand for the next quarter will be more obvious in June.
Analysts estimated TSMC's consolidated sales in June to grow 14.5 percent month-on-month to NT$83.33 billion.
With Apple expected to launch its new iPhones in September, TSMC's shipments of chips made on the advanced 10 nanometer process could increase at a significant pace in the third quarter.
TSMC's sales data was released before the close of the stock market Friday.
The company's shares ended down 0.47 percent to close at NT$212.00 after hitting an early high of 215.00 on Friday.
Source: Focus Taiwan News Channel
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