Taiwan Semiconductor Manufacturing Co. (TSM) is forecasting 10% annual revenue growth for the worldwide microchip and semiconductor industry this year.
TSMC, as the company is known, is the largest chip foundry in the world, making about 70% of the world’s microchips and semiconductors, including for companies such as Nvidia (NVDA).
The growth forecast from TSMC excludes memory chips, the company said.
The latest outlook is lower than one provided by the World Semiconductor Trade Statistics, which has forecast growth of 13.1% for the global semiconductor market this year.
TSMC also estimated that its sales in the current second quarter could rise 30% or more due to rising demand for semiconductors that are used in artificial intelligence (A.I.) applications.
The stock of TSMC has risen 73% over the last 12 months and currently trades at $156.15 U.S. per share.
