Taiwanese chipmaker and major Apple supplier TSMC posted a 78% increase in fourth-quarter net profit on Thursday, as strong sales of advanced chips, a prime example being Apple Silicon, helped it defy a broader industry downturn affecting cheaper commodity chips.
TSMC saw net profit for the October-December period rise to T$295.9 billion ($9.72 billion) from T$166.2 billion a year earlier.
That compared with the T$289.44 billion average of 21 analyst estimates compiled by Refinitiv. ($1 = 30.4420 Taiwan dollars)
MacDailyNews Take: Bodes well for Apple which reports December quarter results after market close on February 2nd.
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