TSMC set to report strong profit; stock pressured by Trump comments
TAIPEI -Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 30% jump in second-quarter profit on Thursday thanks to soaring demand.
TSMC, at its quarterly earnings call starting at 0600 GMT on Thursday, will update its outlook for the current quarter as well as for the full year, including its capital expenditure, as it races to expand production. On its last earnings call in April, TSMC maintained its guidance for capital spending this year at $28 billion to $32 billion, compared with last year's $30.45 billion, and said 70% to 80% of the total would go towards advanced technologies.
The AI boom has helped drive up the price of shares in Asia's most valuable company, with TSMC's Taipei-listed stock leaping 74% so far this year to historic highs, compared with a 31% gain for the broader market.
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