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.
Qualcomm Spikes on Report It Will Remain iPhone 5G Modem Chip Supplier in 2023
Qualcomm shares soared Tuesday on a report that Apple’s push to develop modem chips for the iPhone “may have failed,” and that Qualcomm will remain the exclusive supplier of 5G chips for phones to be launched in the 2023 second half.
Writing on Twitter, the Taiwan-based hardware analyst Ming-Chi Kuo said that Qualcomm (ticker: QCOM) will hold on to 100% of the Apple (AAPL) modem supply for the 2023 iPhones vs the company’s own previous estimate of 20%.
Kuo wrote that he thinks Qualcomm’s revenue and profits for the 2023 second half and 2024 first half “will likely beat consensus” estimates as a result.
The analyst added that he thinks Apple will continue to develop 5G modem chips, “but by the time Apple succeeds and can replace Qualcomm, Qualcomm’s other new businesses should have grown enough to significantly offset the negative impacts caused by the order loss of iPhone 5G chips.”
Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed.
“I truly believe that this is the Midwest’s time. I believe it’s Ohio’s time,” DeWine, a Republican, said in an interview.
Intel said it was canceling a July 22 groundbreaking ceremony at the site while the company waits for Congress to pass the CHIPS Act, which includes $52 billion in assistance to the U.S. semiconductor industry to revitalize a key segment of the domestic supply chain.
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