TAIPEI/TOKYO -- The sharp slowdown in earnings at Taiwan Semiconductor Manufacturing Co. reveals a slower-than-anticipated recovery in the global semiconductor market, with industry insiders not expecting a full-scale upswing until at least 2024.
"While we have recently observed an increase in AI-related demand, it is not enough to offset the overall cyclicality of our business," TSMC CEO C.C. Wei said on an earnings call Thursday -- an indication that the market is still struggling when it comes to personal computers and smartphones.
