Analysts expect Q2 profit of T172.53 bln, down 27 yy
Q2 net revenue down 14 yy, in middle of forecast range
TSMC stock price soars on demand for AI applications
TSMC to hold Q2 earnings call at 0600 GMT on Thursday

TAIPEI, July 18 Reuters Taiwanese chipmaker TSMC is expected to report a 27 fall in secondquarter net profit on Thursday, as global economic woes dent demand for semiconductors, though analysts say business performance is likely to improve in the current quarter.

Taiwan Semiconductor Manufacturing Co Ltd TSMC, the world39;s largest contract chipmaker and a major Apple and Nvidia supplier, is likely to report net profit for the AprilJune period of T172.53 billion 5.58 billion, down from T237.0 billion a year earlier, according to the average of 21 analysts polled by Reuters.

The forecast decline in profit partly reflects a robust performance in the previous year, when the company was still riding high on pentup postpandemic demand.

Analysts at Taiwan39;s Fubon Investment said they expected the second quarter to be the bottom of the current downcycle but that while the situation should improve in the third quarter, it would be weaker than normal given continued inventory build ups that are still being worked through.

One senior Taiwan fund manger told Reuters that third quarter profit would bounce back given expectations for AI demand and launches of new iPhones ahead of the yearend holiday shopping season.

Taiwan has not really benefited from electric…