IPhone Chipmaker TSMC Lifts 2020 Outlook Expecting Big 5G Boost
- Revenue this year may climb more than 30% on 5G, HPC
- Third-quarter profit rose a stronger-than-expected 36%
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Taiwan Semiconductor Manufacturing Co. raised its 2020 revenue forecast for a second time this year, reflecting strong demand for 5G mobile devices like Apple Inc.’s new iPhones and high-performance computing in the post-pandemic era.
The world’s largest contract chipmaker now expects 2020 sales to climb more than 30% in dollar terms, compared with a previous forecast of growth of more than 20%. For the current quarter, revenue should be between $12.4 billion and $12.7 billion, while gross margin will be between 51.5% and 53.5%, Chief Financial Officer Wendell Huang told analysts.