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Monday, Dec 17
2012, 12:00 PM
TSMC (TSM) is setting a 2013 capex budget of $9B, below prior reports of $10B and arguably a...
TSMC (TSM) is setting a 2013 capex budget of $9B, below prior reports of $10B and arguably a negative for chip equipment makers who have been hoping TSMC's spending would offset weakness at Samsung and perhaps also Intel. But then again, shares of equipment vendors have already priced in a fair amount of bad news. Also, TSMC is forecasting 2013 revenue growth of 15%-20%, well above a 9.9% consensus, as its mobile exposure allows it to soundly outpace chip industry growth.