Taiwan Semiconductor Manufacturing Co. posted better-than-expected earnings as demand from Chinese smartphone brands makes up for a market slowdown and weaker sales at its largest customer Apple Inc.
The world's largest contract chipmaker reported second- quarter net income of NT$72.5 billion ($2.3 billion), surpassing the NT$68.9 billion average of analysts’ estimates over the past four weeks. That beat came despite global smartphone sales growing at their slowest pace on record.
The Taiwanese company is one of the key chip suppliers to the iPhone, and may have begun to crank out chipsets for the iPhone 7 ahead of its anticipated September rollout, according to SinoPac Securities Investment Service. But even as Apple faces its second straight decline in quarterly revenue, TSMC's benefiting from the rising popularity of cheaper Android smartphones in emerging markets. Brands like Oppo and Vivo overtook Apple in China in May, pushing the iPhone maker to fifth place, according to Counterpoint Research.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
The world's largest contract chipmaker reported second- quarter net income of NT$72.5 billion ($2.3 billion), surpassing the NT$68.9 billion average of analysts’ estimates over the past four weeks. That beat came despite global smartphone sales growing at their slowest pace on record.
The Taiwanese company is one of the key chip suppliers to the iPhone, and may have begun to crank out chipsets for the iPhone 7 ahead of its anticipated September rollout, according to SinoPac Securities Investment Service. But even as Apple faces its second straight decline in quarterly revenue, TSMC's benefiting from the rising popularity of cheaper Android smartphones in emerging markets. Brands like Oppo and Vivo overtook Apple in China in May, pushing the iPhone maker to fifth place, according to Counterpoint Research.
No comments:
Post a Comment