The TSMC representatives at the report event were generally reluctant to comment on projections for future periods, but made it clear that in the second half of the next year the demand for company services should return to growth, even if the industry as a whole is declining. In the medium term, the company expects to increase revenue by 15 to 20 per cent per year.
In general, the TSMC event came under the main idea of the temporary nature of the difficulties that led to a sharp decline in demand for a company ' s 7-nm product, and the management emphasized that the demand for more advanced processes exceeded the company ' s own capacity to produce the products, and that the future revenue growth would not be jeopardized; the advanced N3 and N2 processes, according to the head of TSMC C.C. Wei, would be required in both the high-performance and smartphone segments; the company ' s revenues would increase by an average of 15-20% every 12 months in dollar terms in the coming years.
The company is also about to maintain a rate of return that should not fall below 53%. TSMC has refused to explain whether this would be achieved by raising the price of its services, as the rumors have long attributed to it the intention to raise prices by 3.6% since January 2023. The company's management has only evasively explained that its relationship with clients is based on strategic partnership, and thus avoids sharp price increases due to short-term market factors.
In the opinion of the company ' s management, the stock adjustment for TSMC clients will have hit their business hardest in the first half of the following year. TSMC itself reduced its supplies in the current quarter and peaked in the third quarter. By the second half of next year, the demand for TSMC services should have returned to growth. It is interesting that similar forecasts are being made in the memory chip market by both participants and outside experts. This indicates that the producers of such forecasts are in varying degrees of consensus and do not see any unpredictable factors on such a time horizon. However, the TSMC management does not rule out that the industry as a whole will show a decline in revenues by the end of 2023, but the company itself will expect growth during this period. Among other things, in the 2023 results, TSMC hopes to raise the share of the proceeds from 3-N products to 4.6 per cent of the total.