TSMC Rises to Record After Forecasting Sales Growth
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Taiwan Semiconductor Manufacturing Co. rose to a record in Taipei after the world’s largest contract manufacturer of chips forecast sales surpassing analyst estimates amid continued growth in smartphone demand.
The stock climbed as much as 2.5 percent to NT$123 as of 9:21 a.m. in Taipei. Second-quarter revenue will be NT$180 billion ($6 billion) to NT$183 billion, the Hsinchu, Taiwan-based company said yesterday. The high-end of the range is above each of 25 analyst estimates compiled by Bloomberg which had an average of NT$169 billion.