TSMC Receives a Boost From Apple iPhone Chip Business During 3Q; Raising FVE to $28
Taiwan Semiconductor Manufacturing reported third-quarter results ahead of our expectations, thanks to 10-nanometer sales related to Apple’s latest iPhone 8 and iPhone X smartphones. Additionally, the firm benefited from chip demand related to cryptocurrency mining, including GPUs and custom chips. We note that the margin dilution related to lower yields and utilization of the 10-nm process has been less than we had anticipated. Coupled with slightly higher growth expectations for artificial int...Taiwan Semiconductor Manufacturing is a foundry in the semiconductor industry which engages mainly in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. Co. also engages in the researching, developing, designing, manufacturing and selling of solid state lighting devices and related applications products and systems, and renewable energy and efficiency related technologies and products. Co.'s products include logic semiconductors, mixed-signal/radio frequency semiconductors, CMOS image sensor semiconductors and high voltage semiconductors.
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