TSMC has guided 2020 sales growth of +20% y-o-y or higher (vs its previous outlook in the high teens) despite the loss of HiSilicon’s business.

The 2020 capex budget has been raised from $15~16 billion to  $16~17 billion.

The 2020 capex upgrade is due to better-than-expected demand for 5nm processes that began mass production in 2Q20.

Apple is the largest consumer of TSMC’s 5nm process.

TSMC believes that y-o-y growth in 2H20 will be greater than in 1H20.

ASML expects to ship 35 EUV machines this year and 45-50 next year.

The company is forecasting an 11% sequential rise in Q3 revenues to reach €3.7 billion.