Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence (AI) applications, is expected to report a 30%...
TAIPEI - Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 30% jump in second-quarter profit on Thursday thanks to soaring demand.
TSMC is set to report a net profit of T$238.8 billion for the quarter ended June 30, according to an LSEG SmartEstimate drawn from 21 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.While TSMC's stock - and the broader Taiwan market - has reached record highs, it dropped 2.4% on Wednesday after Republican presidential candidate Donald Trump said Taiwan "did take about 100% of our chip business" and should pay the U.S.
On Wednesday, ASML, the world's biggest chipmaking equipment supplier, reported better-than-expected second-quarter earnings. TSMC is spending billions of dollars building new factories overseas, including $65 billion on three plants in the U.S. state of Arizona, though it has said most manufacturing will remain in Taiwan.
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