The top contract chipmaker globally, TSMC, announced on Monday that its first-quarter revenue is likely to trend towards the lower end of its forecast range due to an estimated $161 million blow stemming from an earthquake in January on the island.
TSMC, renowned for its cutting-edge chip technology and a significant supplier to tech giants like Apple and Nvidia, revealed projected losses of about NT$5.3 billion ($161 million) resulting from the earthquake in southern Taiwan at the start of the year, after accounting for insurance compensations.
The company indicated that its revenue forecast is now expected to align with the lower boundary of the guidance span between $25 billion and $25.8 billion. Despite the earthquake triggering the discard of some semiconductor wafers, TSMC assured that its chip manufacturing facilities were unscathed structurally, with operations back to regular pace. Efforts are in progress to make up for the lost manufacturing, with the company stressing that its annual financial projection remains unaltered.
