Despite chip shortages, supply issues and Covid, TSMC closes 2021 with positive results and record profits, exceeding analysts’ forecasts. Not only that, in the results presentation, executives at the world’s largest processor contract manufacturer say they are optimistic about the performance of their business and the market in the coming months and years.

In the last three months of 2021, TSMC reported revenues of $15.74 billion, a growth of 24.1% compared to the same period in 2020, totaling record profits of $6.91 billion, results higher than analysts indicated.

It should be kept in mind that TSMC is the sole manufacturer of Apple’s A-series (iPhone, iPad, Apple TV) and M-series chips destined for Macs: it is estimated that more than a quarter of the company’s entire revenue comes directly from orders and orders from Cupertino.

Company executives expect growth to continue this year and beyond, thanks to what’s being called a “multi-year industry megatrend,” as Reuter reports, referring to the strong demand for chips spurred by new technologies. TSMC is entering a “Period of Higher Structural Growth,” said CEO C. C. Wei.

For this reason, the company has revised upward the compound growth rate for the coming years, from the previous 10-15% to the current 15-20%. In 2021 TSMC announced a mega investment plan of 100 billion dollars spread over several years, both in new plants and in new technologies to produce chips and processors more and more miniaturized.

For the first quarter of this year, the company’s guidelines point to revenue growth of up to $16.6-17.2 billion, up from $12.92 billion in 2021. For the full year 2022, TSMC expects to grow more than 20 percent. Apple’s A16 processor in this year’s iPhone 14 range is expected to be made by TSMC using 4-nanometer technology, before moving to 3-nanometer in 2023.

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