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Follow on Google News | ![]() Mayfair International Capital - Electronics Company in Taiwan Delivers a Beat-and-Raise Q3 ReportTaiwan Semiconductor Manufacturing (TSM), the world's largest contract chipmaker, surpassed analyst expectations for the third period on Thursday. TSM's shares surged in response to the announcement.
TSMC's results represented the company's third consecutive quarter of dropping sales and profitability as its customers deal with a drop in chip demand. Customers of TSMC include Apple (AAPL), AMD (AMD), Nvidia (NVDA), Qualcomm (QCOM), and others. TSMC forecasts sales of $18.8 billion to $19.6 billion for the current quarter. The midpoint of $19.2 billion is more than the $18.54 billion projection set by Wall Street. TSMC made $20.54 billion in revenue in the fourth quarter of last year. TSM Stock Rises Following Report TSM stock rose 3.7% today to settle at 92.91 on the stock exchange. "Our third-quarter business was supported by the strong ramp of our industry-leading 3-nanometer technology and increased demand for 5-nanometer technologies, partially offset by customers' ongoing inventory adjustment," The CEO stated, "Moving into fourth quarter 2023, we expect our business to be supported by the continued strong ramping of our 3-nanomenter technology, partially offset by customers' continued inventory adjustment." Mayfair International Capital Limited (https://mayfairintlcapital.com) offer investment and asset management advice. Mayfair International Capital collaborate with you to develop a financial plan that enables you to actively accumulate, preserve, and diversify your assets. End
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