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TSMC Expects 30% Sales Rise Despite Global Economic Ructions

  • It’s lost over a tenth of its value in 2022 on investor fears
  • TSMC to spend more than $40 billion to expand capacity in 2023
TSMC rose more than 1% in Taipei, after having shed more than a tenth of its value this year.

TSMC rose more than 1% in Taipei, after having shed more than a tenth of its value this year.

Photographer: I-Hwa Cheng/Bloomberg
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Taiwan Semiconductor Manufacturing Co. expects revenue to grow about 30% in 2022, signaling resilient demand for electronics despite global macroeconomic uncertainty.

Sales growth this year should accelerate from 2021’s 24.9%, which was in dollar terms, Chairman Mark Liu said at the company’s annual shareholder meeting on Wednesday. That’s in line with executive remarks in April that gave an official outlook of topping mid- to high-20% growth in 2022.