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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

(2330)
  Report
End-of-day quote Taiwan Stock Exchange  -  2023-01-16
503.00 TWD   -0.40%
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Report warns U.S. chip design market share to plunge without government support

11/30/2022 | 05:03am EST
FILE PHOTO: U.S. chipmaker Intel Corp's logo is seen on their

(Reuters) - The United States has been a leader in microchip design with dominant companies like Nvidia, Intel and Qualcomm, but it risks a big drop in global market share without government support for the sector, warned a report released on Wednesday.

The U.S. share of chip design revenue has been slipping in recent years, dropping to 46% in 2021 from over 50% in 2015. Without government support, that could drop to 36% by the end of this decade, according to the analysis released by U.S. industry body Semiconductor Industry Association (SIA) and Boston Consulting Group.

The United States has already lost its lead in chip manufacturing, prompting the Biden administration to pass the CHIPS and Science Act this year. An earlier report by SIA and BCG in 2020 showed the U.S. share of modern global chip manufacturing capacity had fallen to 12% by that year, down from 37% in 1990.

While companies like Intel Corp both design and manufacture chips, so-called fabless chipmakers like Nvidia Corp and Qualcomm Inc design chips that are made by the likes of Taiwan Semiconductor Manufacturing Co..

The report also said government support is helping companies in countries like China and South Korea to gain market share in chip designing as well.

It said federal investment in semiconductor design and R&D of $20 billion-$30 billion through 2030, including a $15 billion-$20 billion investment tax credit for chip design, would be needed to maintain U.S. leadership in the long-run.

While the CHIPS and Science Act included $39 billion in manufacturing grants for chip production and $13 billion for R&D, nothing was tagged for chip designing specifically, according to a spokesperson for SIA.

The report also said the U.S. chip industry will face a shortage of 23,000 design workers by 2030, but funding from the federal government could help support training up a workforce.

(Reporting By Jane Lanhee Lee; Editing by Tom Hogue)

By Jane Lanhee Lee


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION -6.41% 28.16 Delayed Quote.6.55%
MSCI TAIWAN (STRD) 0.00% 547.775 Real-time Quote.8.83%
NVIDIA CORPORATION 2.84% 203.65 Delayed Quote.39.35%
QUALCOMM, INC. -0.42% 133.4 Delayed Quote.21.34%
TAIWAN SEMICONDUCTOR CO., LTD. 0.63% 79.3 End-of-day quote.6.87%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.40% 503 End-of-day quote.12.15%
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Financials
Sales 2022 2 274 B 75 170 M 75 170 M
Net income 2022 1 007 B 33 303 M 33 303 M
Net cash 2022 528 B 17 445 M 17 445 M
P/E ratio 2022 12,9x
Yield 2022 2,40%
Capitalization 13 043 B 431 B 431 B
EV / Sales 2022 5,50x
EV / Sales 2023 5,37x
Nbr of Employees 65 152
Free-Float 93,6%
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Mean consensus BUY
Number of Analysts 31
Last Close Price 503,00 TWD
Average target price 617,14 TWD
Spread / Average Target 22,7%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Fan Cheng Tseng Vice Chairman & President
Wendell Huang Chief Financial Officer & Vice President
Chung-Zung Kung Manager-Financial Department
Te Yin Liu Chairman
Sector and Competitors
1st jan.Capi. (M$)
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED12.15%431 159
NVIDIA CORPORATION39.35%501 183
BROADCOM INC.5.70%246 967
TEXAS INSTRUMENTS5.37%158 767
QUALCOMM, INC.21.34%149 541
ADVANCED MICRO DEVICES, INC.16.04%121 572