Major contract chipmaker TSMC is set to surpass Samsung and be the top semiconductor company worldwide by quarterly revenue, as IC Insights estimated on Wednesday. TSMC just beat Intel in second-quarter revenue this year to become the second-largest semiconductor firm. Its revenue will hit $20.2 billion in the third quarter of 2022 with 11% quarterly growth. Samsung, meanwhile, will see revenue fall by 19% quarterly to $18.29 billion in the same period, according to IC Insights’ forecast. The consultancy attributed the shifts to the “free-fall” memory market and poor expectations of Samsung, which lost clients like Qualcomm and Nvidia. [IC Insights]
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