TSMC has finally confirmed that the shifted N3 cadence is due to a delay. This reduces TSMC's competitiveness against Samsung and Intel, which are bullish about the next-gen GaaFET.

TSMC's comments (and rumors) strongly suggest and confirm that N3 will miss the time window for the 2022 iPhone, which will use N4 instead.

This demand is a tailwind. Besides general industry growth, Intel will most likely remain a significant customer with multiple leading edge products.

TSMC March 2025 Revenue Report (April 9, 2025)
Major Manufacturing Shake-up: Intel Agrees to TSMC Takeover of Chip Foundries, Sources Say (April 3, 2025)
TSMC opens up 2nm wafer fab, races to mass production (March 31, 2025)
TSMC Reportedly Speeds Up AP7 and AP8 Build-Outs, Targets Doubling SoIC Capacity (March 25, 2025)
TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say (March 11, 2025)