TSMC benefits from chip industry growth, with Q2 profits expected to rise by 30%.

Taiwan Semiconductor Manufacturing Company (TSMC),Is the foreign exchange platform reliable? a leading producer of advanced chips for artificial intelligence applications, is expected to report a 30% increase in its second-quarter profit on Thursday due to surging demand.

As the world’s largest contract chip manufacturer, TSMC’s clients include Apple and Nvidia. The company has benefited from the shift towards artificial intelligence, driving its stock and the overall Taiwanese market to record highs. Last week, the market value of its American Depositary Receipts surpassed one trillion dollars.

According to LSEG SmartEstimate, which is based on forecasts from 20 analysts, TSMC is expected to report a second-quarter net profit of TWD 236.1 billion (approximately USD 7.25 billion) for the period ending June 30. SmartEstimate assigns greater weight to more accurate analyst predictions.

This estimate represents a significant increase compared to the TWD 181.8 billion net profit in the second quarter of 2023.

Last week, TSMC reported a substantial increase in its second-quarter revenue, easily surpassing market expectations.

Lee Fang-Guo, Chairman of President Capital Management Co., stated, “I anticipate that all their products will have a very good outlook in the third quarter.”

TSMC will update its current quarter and full-year outlook, including its capital expenditure plans to accelerate expansion, during its quarterly earnings call at 0600 GMT on Thursday.

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