Major Apple supplier TSMC’s monthly sales rise in latest sign of sector recovery

Major Apple supplier Taiwan Semiconductor Manufacturing Co. (TSMC)’s January sales rose after strong demand for AI chips helped offset continued weakness in consumer electronics products.
Jane Lanhee Lee for Bloomberg News:
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Revenue at the world’s biggest chip contract manufacturer and supplier to Apple Inc. and Nvidia Corp. rose 7.9% last month to NT$215.79 billion ($6.9 billion), according to a statement Wednesday.
The revenue growth is the latest sign that a long-awaited sector rebound is near… Last month, TSMC said that it’s projecting revenue growth of at least 8% in the March quarter in the range of $18 billion to $18.8 billion.
Persisting weakness continues to weigh on the tech sector, however. Apple warned that it’s facing a tough quarter compared with the year-earlier period, which got a boost from pent-up iPhone demand…

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MacDailyNews Note: TSMC in trading today popped +5.01% on the news.
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