Major Apple supplier TSMC’s profit surges 60% in Q1, beats forecasts

TSMC, a major Apple supplier and the world’s largest contract chipmaker, posted a 60% jump in first-quarter net profit on Thursday, beating market forecasts as it benefited from surging demand for semiconductors used in artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co saw January-March net profit rise to T$361.6 billion (US$11.12 billion) from T$225.5 billion (US$6.94 billion) a year earlier.
The profit beat a T$354.6 billion (US$10.90 billion) LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.
MacDailyNews Take: Strong.

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