Taiwan Semiconductor Manufacturing Co. Chairman Mark Liu said his company isn’t revising down its forecasts for sales or capital spending for this year. Global demand for chips used in vehicles, internet-of-things gadgets and high performance computing remains strong, he said at an appearance in Hsinchu, Taiwan, as head of the Taiwan Semiconductor Industry Association.
China’s lockdowns are likely costing the country at least $46 billion a month, or 3.1% of GDP, in lost economic output, an economist predicted based on the assumption that cities generating about 20% of China’s gross domestic product are currently imposing targeted lockdowns. That cost would double if those areas had to follow Shanghai and impose stricter policies requiring most residents to remain at home.
TSMC will rearrange its output priorities to adapt to the new demand profile, Liu said. The company is keeping its production in Shanghai going, he said.
_ ..
My post is for Your Eyes only and my entertainment
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.