If we look at the major IC design, foundry, and even end-system companies from a broader perspective, it is clear that their revenue growth in 2022 will show a different trend. Excluding Intel, which was already weak in 2021, the annual growth performance of major domestic and foreign IC designers was better than that of TSMC from 2021 to the first half of 2022, and then reversed in the second half of 2022, leaving only AMD and TSMC to maintain positive growth performance in the fourth quarter of 2022, and even TSMC's annual growth for that quarter was generally better than that of Qualcomm and other major IC designers. Even TSMC's annual growth in that quarter was generally better than that of Qualcomm and other major IC designers, but in the first quarter of 2023, only TSMC was able to maintain positive growth performance, as shown in Figure 1.

Figure 1. Domestic and foreign semiconductor companies and Apple's annual revenue growth performance change.

Source：Companies; Collated by Ji-Pu Industrial Trend Research Institute