Global Chip Manufacturer Expects Lower Profit Due To Uncertain Crypto Mining Demand
Cointelegraph
Published Apr 20, 2018 08:46AM ET
Updated Apr 20, 2018 10:02AM ET
Global Chip Manufacturer Expects Lower Profit Due To Uncertain Crypto Mining Demand
Taiwan Semiconductor Manufacturing Co. (TSMC), a global chip manufacturing giant, has lowered its 2018 revenue forecast to 10 percent growth, down from its previous estimate of 10 to 15 percent, based in part on uncertainty in cryptocurrency mining demand, CNBC reported April 19.
Morgan Stanley (NYSE:MS) estimates that about 10 percent of TSMC’s revenue depends on crypto mining demand. Charlie Chan, equity analyst at Morgan Stanley Taiwan, said that in their analysis, “Bitcoin mining hardware demand and price will decline further and affect TSMC's wafer demand.”
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