Taiwan Semiconductor Manufacturing Co. looks increasingly likely to miss its own forecast of reaching at least $40 billion in capital spending.
(Bloomberg) — Taiwan Semiconductor Manufacturing Co. looks increasingly likely to miss its own forecast of reaching at least $40 billion in capital spending.
This year, it invested $25.5 billion over three quarters, or an average of about $8 billion a quarter. It would have to hit more than $14 billion to reach the low end of its projected range.
TSMC, the world’s most valuable chipmaker, said earlier that it planned to spend near the lower end of a $40 billion to $44 billion range on capital equipment, but the industry has since hit a market downturn with slowing demand for personal computers, smartphones and other gear.
TSMC reported net income rose to NT$280.9 billion ($8.8 billion) for the quarter through September, compared with analysts’ estimates of NT$264.7 billion on average.
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