(Bloomberg) – Taiwan Semiconductor Manufacturing Co., Taiwan’s largest company and producer of chips for companies like Apple Inc., rose as much as 10% intraday on Monday, extending a recovery of more than $ 160 billion since March. .
The most prominent driver for renewed enthusiasm came from Intel Corp.’s warning last week that its first 7-nanometer chips will go on sale a year ahead of schedule and the company could potentially run out of production, most likely. make him the leader of the TSMC foundry. A report on Monday suggested that Intel had placed orders with TSMC for 180,000 6nm chip units by 2021.
Read more: Intel sinks as it weighs manufacturing chip output
TSMC is among the few companies to have resisted the coronavirus outbreak without suffering a serious slowdown in business. Long-term investments in fifth-generation wireless technology and high-performance computing by its customers have maintained order volumes, and even the company has increased its outlook for 2020 and expects capital expenditures to rise to $ 17 billion.
Representing more than a quarter of Taiwan’s Taiex benchmark, the TSMC price rise has the index on track to close the 1990 record on Monday. Taiwan’s actions have proven resilient to both the pandemic and the China-U.S. Disputes this year. That is largely due to President Tsai Ing-wen’s administration containing the spread of the coronavirus thus far, a success that has kept the economy going.
Listed companies posted a 6% sales increase in June from a year earlier, the fastest growth since October 2018, the Taiwan Stock Exchange said on July 13.
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