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TSMC Beats Profit Estimates as Gadget Demand Boosts Chip Sales

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. reported first-quarter profit that beat estimates on solid demand for chips used in everything from smartphones to cars, while an ongoing shortage increased prices. Net income rose to NT$202.
Suisse Randy Abrams Charles Shum Bloomberg Taiwan Semiconductor Manufacturing Co Samsung Electronics Co Apple Inc Susquehanna Financial Group

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TSMC shares edge near record on demand surge

Shares of Taiwan Semiconductor Manufacturing Co (TSMC, ๅฐ็ฉ้›ป) yesterday edged toward fresh highs after raising growth projections and unveiling record spending, underscoring expectations the voracious demand that fueled a global chip crunch will persist. The worldโ€™s largest foundry jumped as much as 1.8 percent, boosting the benchmark TAIEX. Apple Incโ€™s most important chipmaker is now projecting average sales growth of 15 to 20 percent annually โ€” as much as double its previous expectat...
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