Major Apple supplier TSMC expects annual revenue growth of 10% in semiconductor industry

Taiwanese contract chipmaker TSMC, a major Apple supplier, on Thursday forecast an annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.

Reuters:
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“This is a new golden age of opportunity with AI,” said senior vice-president Cliff Hou, who was speaking at an event in Hsinchu, where the company is headquartered.

World Semiconductor Trade Statistics has forecast growth of 13.1% for the global semiconductor market in 2024.

TSMC has estimated second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in artificial intelligence applications (AI).

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MacDailyNews Take: Earlier this month, Bloomberg News reported that, this year, Apple will power some of its upcoming artificial intelligence features via data centers equipped with its own Apple Silicon chips as it races to catch up to rivals by infusing its devices with myriad AI capabilities.
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