Apple supplier TSMC’s sales surge 44%

Apple supplier Taiwan Semiconductor Manufacturing Co. (TSMC) reported better-than-expected quarterly revenue, posting NT$534.1 billion ($17.9 billion) of revenue for the second quarter versus the average analysts’ estimate of NT$519 billion.

Debbie Wu for Bloomberg News:

The results from Apple Inc.’s most important chipmaker may allay investors’ worst fears about the impact of weakening demand and soaring costs on the $550 billion semiconductor industry.
TSMC may be able to exceed its goal of growing sales by 30% in US dollar terms this year, said Jeff Pu, an analyst with Haitong International Securities… “The company’s third quarter revenue may outperform consensus, aided by its price hike and Apple’s new product launch.”
TSMC, the world’s most advanced maker of silicon chips, has benefited from its most important customer. Over the past year and a half, Apple has launched five types of Mac chips.

MacDailyNews Take: Good news leading into Apple’s fiscal Q322 earnings report, due after market close on July 28th.
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