Page 39 - august_072922.indd
P. 39
TAP TIMES -39- AUGUST 2022
The canary (from 38) From 2016 through 2021, the company
posted an average June/May sales in-
ies posted a 5% drop in June semiconduc- crease of 14%, with 2018 registering the
tor sales as compared to May, with three only decline (-13%) during this timepe-
of the four largest companies, including riod.
TSMC, registering a decline.
It will be especially interesting to hear
High flyers decline TSMC discuss its 3Q22 guidance when it
Particularly worrisome is the steep 26% reports its 2Q22 sales results on July 14,
decline in the June/May sales by previous 2022. (See below)
“high-flyer” Novatek (the company posted
a 2021/2020 sales increase of 78%). The first to report
TSMC is the first top-25 semiconductor
Note also the 16% drop in June/May sales supplier to report its calendar year 2Q re-
by DRAM supplier Nanya, possibly confirm- sults and offer guidance for 3Q.
ing the dire memory market outlook Mi-
cron alluded to in its June 30 guidance. Regarding the company’s historical 3Q/2Q
performance, from 2016-2021 TSMC reg-
Typically, a month-to-month decline in istered an average sales increase of 16%
sales would not be a cause for concern. and hasn’t logged a 3Q/2Q revenue drop
However, historically, semiconductor com- since 2011. icinsights.com
panies post the strongest sequential in-
creases in monthly revenue in the last TSMC reports massive 36.6%
month of each quarter (i.e., March, June, Y/Y revenue increase
September, and December), as is evident
in the WSTS (World Semiconductor Trade TAIPEI, Taiwan — In mid-July, TSMC
Statistics) monthly data. reported Q222 revenue of $18.16 bil-
lion, an increase of 3.4% from the
While not providing a monthly sales re- prior quarter. This figure represents a
sult, Himax Technologies, the fourth larg- Y/Y increase of 36.6%.
est Taiwanese fabless IC supplier, released
updated guidance for its 2Q22 revenue on Gross margin for the quarter was 59.1%,
June 20, 2022. operating margin was 49.1% and net
profit margin was 44.4%.
Lower guidance for Himax
The company stated that it expects its 5nm represented 21%
2Q/1Q sales to fall by 22-27% (lower than The company said 5nm chips accounted
its initial guidance for a 16-20% decline). for 21% of total wafer revenue.
No way to sugarcoat that announcement!
TSMC predicts Q322 revenue to be from
TSMC, by far the largest foundry in the $19.8B - $20.6B based on the exchange
world as well as the largest Taiwanese rate of $1=29.7 NT dollars.
semiconductor supplier, is especially worth
watching for signs of weakness in the in- Gross profit margin is forecast between
dustry. As shown, TSMC’s June 2022 sales 57.5%-59.5% with operating profit be-
were down 5% from May 2022. tween 47%-49%. tsmc.com
