Major Apple supplier TSMC’s third-quarter revenue rose 30% YoY

Major Apple Silicon supplier TSMC, the world’s largest contract chipmaker, reported on Thursday third-quarter revenue rose 30% year-over-year, beating analysts’ consensus expectations.
Reuters:
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Revenue for July-September came in at T$989.92 billion ($32.47 billion), according to Reuters calculations, compared with T$759.69 billion in the year ago period.
The latest result handily topped an LSEG SmartEstimate of T$973.26 billion drawn from 22 analysts, and was in the mid-point of guidance of $31.8 billion to $33 billion issued by TSMC in July in its last earnings call. TSMC only gives guidance in U.S. dollars.
TSMC will report full third-quarter earnings on October 16, including an updated outlook for the current quarter and full year.
The company, whose customers include Nvidia and Apple, has been a major beneficiary of advances in AI, which has more than offset the tapering off of pandemic-led demand for chips used in consumer electronics like tablets.

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MacDailyNews Take: Good news from major Apple suppliers is good news for Apple which, by most accounts, is in the midst of strong demand for its newest lineup of iPhones.

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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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