Apple supplier TSMC posted a better-than-expected surge in quarterly profit on Thursday and forecast an up to 37% jump in current-quarter sales, as a global chip supply crunch allowed chipmakers to charge premium prices.
TSMC, the world’s largest contract chipmaker and a major Apple Inc supplier, reiterated on Thursday that it expected chip capacity to remain very tight this year, a shortage that has forced automakers and electronics manufacturers to cut production.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast revenue of $17.6 billion to $18.2 billion in the quarter ending June 30, up from $13.29 billion a year earlier.
The company on Thursday said net profit for the January-March quarter jumped 45% from a year earlier to T$202.7 billion ($7 billion). Analysts expected a profit of T$184.67 billion, according to an average of 19 estimates compiled by Refinitiv.
The first quarter was supported by better-than-expected demand from smartphone customers and high performance computing chips, as well as strong demand for auto related chips, [Chief Executive Officer C. C. Wei] said.
MacDailyNews Take: Bodes well for Apple’s fiscal Q222 earnign report due after market close on April 28th!
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