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Thursday, January 14, 2021 2:52:26 PM
Boosted by the launches of 5G smartphones, and the company’s next- generation process technology—used by Apple (AAPL) for chips in several new personal computers, for example—Taiwan Semi reported fourth-quarter net income of NT$142.77 billion ($5.01 billion), which amounts to NT$5.51 a share. Sales rose 22% to NT$361.53 billion.
New Street Research tech analyst Pierre Ferragu called the fourth-quarter earnings solid, and said that the damage to revenue and profit from the ban on doing business with China’s Huawei has been completely eliminated. Ferragu said that the $25 billion to $28 billion in capital spending suggests that Taiwan Semi is expecting annual revenue of more than $75 billion.
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