Foundry leader TSMC (2330-TW) Chairman Liu Deyin attended the 40th anniversary event of Zhuke today (15). He dispelled rumors one by one against the doubts about order cuts and inventory adjustments, explained the new definition of “normal inventory”, and attacked the news of foreign investment.
Asian foreign companies recently pointed out that due to the excessively active upstream sourcing, the first wave of orders for iPhone 12 has appeared. TSMC will bear the brunt. The 5-nanometer capacity utilization rate in the first quarter of next year may fall to 80%, and it will fall below 80% in the second quarter. , And urged the market to pay attention to the expansion of the impact; in addition to the first shot of TSMC’s fear of inventory adjustment, it also set off a long-short market debate.
Regarding foreign investment expectations, TSMC’s 5-nanometer utilization rate will drop sharply in the first half of next year. Liu Deyin responded positively for the first time today, and rarely explained the definition of new terms, reinterpreting what is meant by “normal inventory.”
Liu Deyin pointed out that under the influence of factors such as the epidemic, geopolitics, and trade sanctions, many manufacturers have new explanations for the definition of “normal inventory”. The increase in semiconductor inventory is a normal phenomenon in the future supply chain and cannot be determined by past views. He also denied that it was hacked. The single news emphasized that the performance in the first half of next year will be better than the previous seasonal level, and there is no worry about TSMC’s operation next year.
In the past, when Liu Deyin attended public occasions, he was always gentle and elegant when facing media questions. However, when Liu Deyin today refuted rumors about slashing orders and inventory, his attitude seemed to be firmer than in the past interviews. He said, “I hope everyone will not worry about TSMC next year Operation, we will deal with it,” said the news of foreign investment cuts.
In addition, according to foreign media reports, due to the hot sales of the newly launched 5G version of the iPhone 12 series this year, Apple plans to increase iPhone production in the first half of next year, a 30% increase from the same period this year to 96 million units. The optimistic outlook coincides with each other.
In fact, at the law conference held in October this year, foreign capital and corporate circles have focused on the high-end issue of semiconductor industry inventory. President Wei Zhejia also responded at the time that although customer inventory remained above the seasonal level, he was not too worried about it. Due to the accelerated digital transformation of the epidemic and the creation of many semiconductor-related needs, with the long-term trend of 5G and high-efficiency computing applications unchanged, we are confident that the demand will keep up in the next year.
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