Shulou(Shulou.com)11/24 Report--

CTOnews.com, Oct. 4 (Xinhua) JPMorgan Chase analyst Gokul Hariharan recently said that TSMC's recovery will slow in 2024, given the weakness of most end markets, such as PC and smartphones, according to a Bloomberg report. "orders are expected to remain low in the first half of 2024, given the uncertain macro outlook."

TSMC's share price rose 60 per cent between October and June this year, thanks to the global AI wind, but traders have become cautious, especially as smartphone and PC businesses have not rebounded, and analysts believe orders for high-end AI chips are slowing faster than expected.

▲ source Bloomberg TSMC shares have fallen 11% since their June high, wiping $77 billion off their market capitalization (currently about 562.87 billion yuan) because of concerns about the global macro environment. The volatility skew has continued to rise in recent months, causing TSMC's share price to fall further.

Goldman Sachs recently cut TSMC's capital expenditure forecast for next year by 20% to $25 billion (CTOnews.com Note: currently about 182.75 billion yuan), which will be the lowest level since 2020. This is because Goldman Sachs is concerned that TSMC may delay capacity expansion plans, while TSMC's 12-month profit forecast has fallen by about 8% from its peak in October last year.

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