TSMC earnings could cause another round of consensus upgrades
TSM•Citi expects TSMC’s October 15 earnings to drive new consensus upgrades, forecasting full-year revenue growth of 46% year over year and fourth-quarter revenue growth of about 15% quarter over quarter.
1. Earnings expectations
TSMC reports on October 15. Citi expects the company to beat its recently raised guidance, forecasting full-year revenue to rise 46% year over year and fourth-quarter revenue to increase about 15% quarter over quarter.
2. AI revenue outlook
Citi expects TSMC’s AI revenue growth to nearly double next year, citing accelerating growth expectations among most of its AI semiconductor customers. Nvidia has guided to a doubling of its order intake, while AMD’s CEO is in Taiwan this week partly to ensure its supply chain can ramp up production to meet growing AI demand.
3. High expectations
The article says a failure by TSMC to meet high expectations could jolt the AI theme.
