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TSMC Shares Near Record High on Spending Hike, Growth Outlook

  • It’s setting aside more than $40 billion for 2022 spending
  • TSMC is intent on maintaining its lead over Intel and Samsung
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TSMC to Spend $40 Billion on Chip Shortage

Taiwan Semiconductor Manufacturing Co. shares edged toward fresh highs in Taiwan after raising growth projections and unveiling record spending, underscoring expectations the voracious demand that fueled a global chip crunch will persist.

The world’s largest foundry jumped as much as 1.8%, boosting the benchmark Taiex index. Apple Inc.’s most important chipmaker is now projecting average sales growth of 15% to 20% annually -- as much as double its previous expectation. It intends to spend $40 billion to $44 billion expanding and upgrading capacity in 2022.