Q4 profit T295.9 bln vs T289.44 bln analyst view
Q4 revenue up 26.7 on year at 19.93 bln
Sees 2023 capex at 3236 bln vs 36.3 bln year prior
Company plans to ramp up production overseas

TAIPEI, Jan 12 Reuters Taiwanese chipmaker TSMC warned on Thursday that firstquarter revenue would drop as much as 5 and it would slash annual investment as the major Apple Inc supplier expects softer demand due to a slowing global economy.

The bearish outlook follows a forecastbeating 78 jump in fourthquarter profit, underscoring the depth of a sharp slowdown in a global technology sector that is grappling with worsening consumer demand brought about by decadeshigh inflation rates, rising interest rates and an economic downturn.

Still, Taiwan Semiconductor Manufacturing Co Ltd TSMC , the world39;s most valuable chipmaker, forecast growth would return in the second half of this year.

We forecast the semiconductor cycle to bottom sometime in first half and see a recovery in second half 2023, CEO C.C. Wei said, adding the rebound would be boosted by new product launches such as artificial intelligenceenabled goods.

The world39;s largest contract chipmaker said its capital expenditure in 2023 would decrease to 3236 billion from 36.3 billion in 2022.

Firsthalf revenue is seen posting a mid to high singledigit percent decline. Firstquarter revenue is expected in a range of 16.7 billion to 17.5 billion, compared with 17.57 billion a year earlier.

INVESTMENT

TSMC39;s dominance in…