TSMC's better than expected first quarter not a sign of stronger smartphone sales ahead

TSMC is the firm that turns chip designs from companies like Apple, Huawei, and Qualcomm into chipsets used on devices like the , the , and the . The foundry has just announced that during the first quarter of 2020, which includes the three months from January through March, it generated revenue of $10.31 billion USD with profits amounting to $3.9 billion USD for the period. That topped the $3.52 billion USD profit that several analysts had forecast for the quarter.

The profits were also 90.8% higher that the bottom line figure that the company reported during ...

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