TSMC Sets a Quarterly Revenue Record as Taiwan’s Trade Streak Continues

Table of Contents

• You might want to know
• Main Topic
• Key Insights Table
• Afterwards...

You might want to know

• What drove TSMC’s record quarterly revenue and Taiwan’s 35-month export growth streak?
• How are shipping, optics, labor relations, and AI demand shaping the outlook for Taiwan’s technology sector?

Main Topic

This week’s business developments highlighted the strength of Taiwan’s technology and export sectors, while also drawing attention to supply-chain planning, labor relations, shipping demand, and longer-term economic risks. Taiwan Semiconductor Manufacturing Company (台積電, 2330-TW) reported September revenue of NT$511.857 billion on Thursday (8th), its second-highest monthly result on record. Third-quarter revenue reached NT$1.494244 trillion, setting a new quarterly high and exceeding the company’s guidance range. Meanwhile, Evergreen Marine (長榮, 2603-TW) said the shipping peak season had not ended, and the Ministry of Finance reported that exports had grown for 35 consecutive months. Other developments included Largan Precision’s (大立光, 3008-TW) progress in optical-fiber components, a labor dispute at Micron, and Advanced Micro Devices (超微, AMD-US) planning for a longer investment and capacity horizon in Taiwan.

TSMC’s September revenue was NT$511.857 billion, down 0.6% from the previous month but up 54.6% from a year earlier. Revenue remained above the NT$5000 billion mark for the second consecutive month, and September became the company’s second-highest month in its history. For the third quarter, revenue totaled NT$1.494244 trillion, a record for any quarter. The figure rose 17.62% quarter over quarter and 50.94% year over year, and surpassed the company’s financial guidance high end. Revenue for the first nine months reached approximately NT$3.898727 trillion, an increase of 41.1% year over year. The results underline the scale of demand currently reaching Taiwan’s leading foundry, particularly as demand for advanced computing continues to expand.

Evergreen held an investor conference on Thursday (8th) and reported September consolidated revenue of NT$49.711 billion. This was up 1.48% from the previous month and 65.04% year over year, the company’s highest September revenue since 2024. General Manager Wu Kuang-hui (吳光輝) said September revenue exceeded August’s level, despite the earlier expectation that August would be the year’s high point. He attributed the result to freight rates remaining elevated and said the peak season was not yet over, with some demand extending into the fourth quarter. He also described the outlook for the U.S. route as favorable at least until before Lunar New Year next year.

Wu nevertheless highlighted inflation in the United States as a risk. Because inflation can have a lagged effect, its consequences may emerge later rather than immediately. He warned that this could weaken end-market demand after the second quarter of next year, making the issue one to monitor carefully beyond this year. The shipping update therefore combined near-term optimism with a clear qualification: robust freight conditions and seasonal demand are supportive, but consumer demand and macroeconomic developments could change the picture.

Taiwan’s Ministry of Finance released September customs trade statistics on Thursday (8th). Export, import, and trade-surplus indicators all reached record monthly highs, producing a simultaneous “three highs” result. Exports also maintained positive growth for 35 consecutive months, setting a new record for the longest such streak. The ministry linked the strong performance to the rapid expansion of business opportunities in artificial intelligence, high-performance computing (HPC), and cloud services, together with the traditional export peak season and higher product prices. The 35-month run is a significant milestone, although the source does not provide the individual September totals for exports, imports, or the trade surplus.

Largan Precision reported third-quarter after-tax net profit of NT$5.182 billion, up 11% from the previous quarter but down 26.8% from a year earlier. Earnings per share were NT$39.62. For the first three quarters, after-tax net profit totaled NT$15.976 billion, up 9.76% year over year, while earnings per share reached NT$121.98.

Chairman Lin En-ping (林恩平) said the company’s fiber array (FA) product passed customer certification in September. Largan planned to discuss the scale of production-capacity construction with customers in October and expected to complete the build-out by the middle of next year. The company has also moved further into fiber array units (FAU), with shipments potentially beginning as early as the middle of next year. Multi-row FA products remain at the sample-submission stage and are expected to relate to a 2028 project. These steps point to an effort to broaden the company’s optical component activities, including areas connected with co-packaged optics (CPO), while customer validation and capacity decisions continue to shape the timing.

The labor dispute at Micron (美光, MU-US) in Taiwan intensified. On Thursday (7th), the Micron Taiwan (MTTW) union announced that, following six days of voting and ballot counting, it had formally obtained the right to strike and to establish strike picket lines. Taiwan is Micron’s largest manufacturing base, making the dispute relevant not only to local operations but also to employees elsewhere in the company. The source reported strong attention from employees in the United States, Singapore, Japan, and India. The announcement establishes the union’s authorized options; it does not, by itself, mean that a strike has begun.

Advanced Micro Devices (AMD-US) Chair and Chief Executive Officer Lisa Su (蘇姿丰) visited Taiwan on Tuesday (6th). She said AMD’s previously announced investment of US$10 billion in Taiwan’s supply chain was proceeding according to plan. With demand for CPUs, GPUs, and AI-related products continuing to rise, she indicated that the company expects to increase its investment in Taiwan further. Su also said CPU demand remains higher than supply and that AMD expects to increase supply substantially in 2027. In response to longer-term demand and supply-chain needs, production-capacity planning with key partners has been extended from the previous 1 to 2 years to 3 to 5 years. That longer planning window reflects how AI and computing demand are influencing investment decisions across the supply chain.

Taken together, the week’s reports present a picture of expanding technology demand alongside important uncertainties. TSMC’s record revenue and Taiwan’s trade statistics point to strong activity in advanced manufacturing and exports. Evergreen’s results suggest that shipping demand remained firm, but the company also identified U.S. inflation and potential later demand weakness as risks. Largan’s new product work indicates continued development in optical components, while the Micron labor dispute shows that workforce relations can become a significant operational consideration at a major manufacturing base. AMD’s comments, meanwhile, emphasize the need to align future supply with demand that may remain strong over a multi-year period.

Key Insights Table

Afterwards...

The next phase will depend on whether technology demand, export momentum, and shipping activity can remain resilient as companies expand capacity and customers adjust their purchasing plans. TSMC’s results and Taiwan’s 35-month export growth streak provide evidence of strong current activity, while AMD’s longer planning horizon suggests that key suppliers are preparing for needs beyond the immediate cycle. At the same time, inflation, potential shifts in end-market demand, and labor relations remain factors that could influence operating conditions. Following these indicators will help clarify whether this week’s strong results mark a durable trend or a peak in a particularly favorable period.