TAIPEI : Taiwanese chipmaker TSMC reported a forecast-beating 78 per cent rise in quarterly profit on Thursday, as strong sales of advanced chips helped it defy a broader industry downturn that battered cheaper commodity chips.
TSMC's dominance in making some of the most advanced chips for high-end customers such as Apple Inc has shielded it from downturn. Still, it cut its 2023 capital expenditure plan on Thursday, underscoring worsening demand outlook. It reiterated on Thursday slower demand was a cyclical issue and 2023 overall would be a slight growth year for the company.
Source: News Formal (newsformal.com)
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