Major Apple supplier Taiwan Semiconductor Manufacturing Co. (TSMC) reported higher-than-expected quarterly revenue, signaling the chip giant is benefiting from market share gains.
Revenue at the world’s largest contract chipmaker rose 48% to about NT$613 billion ($19.4 billion) in the third quarter, according to Bloomberg’s calculations. Analysts estimated NT$603 billion on average.
Rising revenue at Apple Inc.’s most important chipmaker signals that the largest players in the $550 billion semiconductor industry may avoid the severe downturn investors have feared, helped by resilient demand for some electronics products in the face of rising interest rates and soaring inflation. Morgan Stanley this week projected a return to growth for the chip industry by the second half of 2023.
TSMC, the world’s most advanced maker of silicon chips, has benefited from Apple launching new types of chips to boost the performance of its devices.
MacDailyNews Take: Bodes well for Apple.
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