14 Oct by Vitaliy Dadalyan

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TSMC third-quarter profit surges 36%, well ahead of market forecasts

TSMC third-quarter profit surges 36%, well ahead of market forecastsTaiwan Semiconductor Manufacturing Co Ltd (TSMC) reported a 36% jump in quarterly net profit, boosted by robust demand for products requiring high-end chips and as Apple Inc readies a new iPhone. July-September net profit for the world’s largest contract chipmaker came in at T$137.3 billion ($4.8 billion), well ahead of the T$124.9 billion average of 19 analyst estimates compiled by Refinitiv. TSMC’s advanced chips are used in high-end smartphones such as Apple’s newly unveiled 5G iPhone 12 as well as in telecommunications technology and artificial intelligence.

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