TSMC $TSM (-0.37%) reported Q4 revenue of NT$868.5B ($26.3B), up 39% YoY, beating estimates. Full-year 2024 revenue reached NT$2.89T, a 34% jump, with December marking a record month (+57.8% YoY). Notably, TSMC's $88B revenue equals 11.3% of Taiwan's GDP. Gross margins are expected to expand to a two-year high of 58%.
On the Jan. 16 earnings call, investors will focus on:
- CoWoS advanced-packaging outlook, critical for AI chip demand over the next 12-18 months.
- Updates on the US Arizona fab ramp-up for Apple and Nvidia.
- Potential margin pressure from weaker mature-node demand.
- 2025 capital-spending plans signaling confidence in next-gen N2 node uptake.