TSMC’s Outlook Tops Estimates as IPhone 7 Helps It Defy Slowdown
- World’s largest contract chipmaker is a major Apple supplier
- Technology investment is helping it outpace market slowdown
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Taiwan Semiconductor Manufacturing Co. forecast better-than-anticipated sales as Apple Inc. prepares to trot out its latest iPhone, helping the chipmaker defy the mobile industry’s worst-ever downturn.
TSMC gave its outlook after reporting second-quarter profit that topped analysts’ projections, as demand from up-and-coming Chinese smartphone brands such as Oppo and Vivo filled a void created by the global slowdown and a months-long lull ahead of the iPhone 7’s debut.