Focus Taiwan
Date: 2018/07/21
By: Jeffrey Wu, Chang Chien-chung and Frances Huang
Taipei, July 21 (CNA) Several foreign brokerages have recommended that
CNA file photo
investors buy into shares of Taiwan Semiconductor Manufacturing Co. (TSMC), the world largest contract chipmaker, after the company on Thursday gave its third-quarter sales guidance.
Although TSMC has forecast a slowdown in its quarterly revenue growth, its share price has been factored into its third-quarter projection of less than 10 percent growth, the brokerages said.
On Thursday, TSMC CEO and Vice Chairman C.C. Wei (魏哲家) said at an investor conference that weaker global demand for mining devices used for cryptocurrency transactions is expected to affect the company’s sales, resulting in 8 percent sequential growth in the third quarter.
The third quarter guidance was given after TSMC reported a net profit of NT$72.29 billion (US$2.35 billion) for the April-June period, down 19.5 percent from the first quarter. The second quarter results, however, were in line with market expectations. [FULL STORY]
