“While the company has benefited from a broader rally in technology companies this year that’s seen rivals including Intel Corp. reach multi-year highs, TSMC is luring investors with record profit as demand for Apple Inc.’s new iPhones fuels orders for its processor chips,” Kim and Sun report. “‘Samsung’s issues and the perceived benefit for Apple is surely creating some optimism,’ said Sandy Mehta, chief executive officer of Value Investment. ‘TSMC is the best in class. Valuations are not very high for TSMC, and rising estimates have led to investor optimism. The shares could still have upside.'”
“TSMC has been able to count on demand for Apple’s new iPhone 7 models to fuel sales of the A10 processor it makes, helping it weather a slowdown in the global smartphone market as it invests in more advanced production technology,” Kim and Sun report. “The company will ‘soon’ start mass production of chips using 10-nanometer processors, said Elizabeth Sun, a spokeswoman at TSMC.”
Read more in the full article here.
MacDailyNews Take: Suck it, Samsung!
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