08.10.2001
TSMC up on the month, UMC looking bleak

• Development: TSMC posted July revenues of NT$8.6bn, up 1% MoM, while UMC’s July revenues declined 8.6% MoM to NT$3.8bn.

• Analysis: We believe that TSMC's Aug and Sep revenues will both trend upward by 10% sequentially, driven by seasonal recovery in the PC segment and NVidia's GPU shipments for XBOX.

• Primasia View: We believe TSMC will post a sequential improvement in monthly revenue. However, UMC’s figures will likely continue to decline