While an ongoing semiconductor shortage has hampered the global economic recovery from Covid-19, suppliers like TSMC, the world’s largest contract chipmaker, are among beneficiaries as they race to fulfill orders. The Taiwanese company is also likely to get a lift from plans by Apple Inc., its largest customer, to ready 90 million units of upgraded iPhones for the second half of this year.
Taiwan Semiconductor Manufacturing Co. reported an 11% increase in quarterly profit, underscoring how the company has benefited from a global chip shortage that’s driven up orders from the automotive and other industries.
Net income for the quarter ended in June rose to NT$134.4 billion (US$4.8 billion), slightly below the average analyst estimate of NT$136.15 billion. Revenue came in at NT$372.15 billion based on previously released monthly sales figures.
