Sumary of TSMC Quarterly Sales Rise 17% After Surge in Chip Demand:
- Taiwan largest company said first-quarter revenue climbed 17% to NT$362.4 billion ($12.7 billion), compared with the average NT$360.5 billion of analysts estimates..
- With economies starting to emerge from the coronavirus pandemic, silicon demand has vastly outstripped supply in recent months, forcing automakers to idle plants for up to weeks at a time and fueling a shortage of popular consumer products like game consoles..
- 1Q sales may jump 18% year-over-year and exceed its NT$360 billion target amid automotive chip supply shortages and continued strength in chip orders for PCs and servers from customers such as AMD..
- The company — already planning capital spending of as much as $28 billion this year — will invest $100 billion over the next three years to expand its capacity, he said…