COVID-19 happens to be blessing for chipmakers

In Corporate
July 10, 2020
C

Taiwanese semiconductor manufacturer TSMC seems to take full advantage of the additional demand for data due to the corona crisis. People work and stay at home more, which means that more data is consumed. TSMC makes money, among other things, by supplying chips to data centers.

The Taiwanese company, a major supplier to tech giants such as Apple and Huawei, released a better-than-expected revenue update for June. Here a plus of 41 percent was measured on an annual basis. As a result, earnings in the second quarter of the year increased by 29 percent.

TSMC’s results are an important indicator for the tech industry, because the chipmaker can count large players among its customers. The company itself is an important customer of the Dutch chip machine manufacturer ASML. It previously lowered its expectations for the current financial year.

By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com

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