TSMC raises revenue forecast for 2020

Taiwan Semiconductor Manufacturing Company (TSMC) has raised its sales forecast for 2020 for the second time this year. The development is driven by robust demand for 5G mobile devices and High Performance Computing (HPC). According to the latest Earnings Call, the world’s largest contract chip manufacturer expects growth of 30% this year.

In the third quarter, TSMC reported revenues of $12.1 billion and net income of $4.8 billion, an increase of 29.2% and 16.9%, respectively, compared to last year.

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