Apple Chipmaker TSMC Raises Outlook in Sign of Tech’s Resilience
- Taiwan’s largest company counts on 5G and high-end chips
- Chipmaker boosts 2020 capex estimate to as much as $17 billion
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Taiwan Semiconductor Manufacturing Co. raised its outlook for 2020 revenue and spending, counting on global 5G smartphone and high-end computing demand to stay strong despite growing signs of a second coronavirus wave.
Apple Inc.’s main iPhone chipmaker is now projecting more than 20% growth in sales, up markedly from an earlier forecast for a mid- to high-teens percentage rise. It expects to spend $16 billion to $17 billion on technology upgrades and expansion this year, up about $1 billion.