Falling demand, China’s Covid Zero policies, the rising cost of living, and recession fears have made 2022 a bad year for tech giants. Demand for everything from smartphones to PCs has fallen, and mass layoffs have become a regular sight.
TSMC has bucked the trend by more than doubling its sales in November—compared to a year earlier—reaching $7.27 billion. That puts the company on track to hit its fourth-quarter estimate of between $19.9 billion and $20.7 billion.
