GLONGHUI June 29丨Due to weak demand for smartphones and consumer electronics products, TSMC's recent growth momentum remains sluggish. However, Citigroup analyst Laura Chen said in a report that by 2024, TSMC's sales will resume a 29% year-on-year increase. She said that although growth in Apple's 3-nanometer chip production and artificial intelligence chips may allow TSMC to see better month-on-month growth in the fourth quarter, overall sales this year may drop 8%. Citibank maintained its buying rating for TSMC, but raised the target price from NT$620.00 to NT$660.00 to reflect a better recovery next year.