April sales at TSMC were NT$74.69 billion (about $2.40 billion), down 8.8 percent from the same month a year before, which compared with a 23.1 percent year-on-year drop the month before. TSMC’s revenue for the year to date was NT293.40 billion (about $9.42 billion), down 11.1 percent on the same period in 2018.

April sales at UMC were NT$12.08 billion (about US$388 million) down by 2.7 percent on an annual basis compared with a drop of 16.8 percent on an annual basis in March. UMC’s revenues for the first four months of 2019 totalled NT$49.91 billion (about US$1.60 billion), down 10.5 percent compared with the same period in 2018.

The reduced declines at both TSMC and UMC lend support to the idea that the bottom of the logic market has been reached.

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