Key Apple Supplier Clocks 48% Sales Growth In Q3

Taiwan Semiconductor Manufacturing Company Ltd TSM reported a September revenue growth of 36.4% year-on-year to NT$208.25 billion.
Revenue for January through September 2022 totaled NT$1.64 trillion, up 42.6% Y/Y.
Revenue for the third quarter grew 48% Y/Y to NT$613 billion ($19.4 billion), above the consensus of NT$603 billion, Bloomberg reports.
The report noted that rising revenue at Apple Inc’s AAPL most crucial chipmaker signals that the most prominent players in the $550 billion semiconductor industry may bypass the severe downturn helped by resilient demand for electronics products.
Apple backed off plans to increase production of its new iPhones, raising questions about underlying electronics demand.
Samsung Electronics Co, Ltd SSNLF expects Q3 FY22 sales of 76 trillion Korean won versus actual sales of 73.98 Korean won in Q3 FY21.
Samsung expects operating profit likely to drop nearly 32% to 10.8 trillion won compared to the same period last year.
Other chipmakers, including Micron Technology, Inc MU, warned against a tougher market as inventories build up and order cut by the data center and consumer tech clients.
Price Action: TSM shares closed lower by 0.17% at $74.35 on Thursday.