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TSMC Lifts Targets After Warning Chip Crunch May Hit 2022

  • Spending now seen at $30 billion, sales may grow 20% in 2021
  • TSMC joins industry giants in warning of prolonged shortage
Outside the Taiwan Semiconductor Manufacturing Co. headquarters in Hsinchu, Taiwan, earlier in April.

Outside the Taiwan Semiconductor Manufacturing Co. headquarters in Hsinchu, Taiwan, earlier in April.

Photographer: Billy H.C. Kwok/Bloomberg
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Taiwan Semiconductor Manufacturing Co. warned that a global shortage of semiconductors across industries from automaking to consumer electronics may extend into 2022, prompting the linchpin chipmaker to lift targets on spending and growth for this year.

The world’s largest contract chipmaker said Thursday that its auto industry clients can expect chip shortages to begin easing next quarter, alleviating some of the supply disruptions that have forced the likes of General Motors Co. and Ford Motor Co. to curtail production. But overall deficits of critical semiconductors will last throughout 2021 and potentially into next year, Chief Executive Officer C.C. Wei told analysts on a conference call.