1 Magnificent Stock to Buy After TSMC's Blockbuster Earnings Report

Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, is a key player in the tech sector as it manufactures chips for several companies that serve multiple industries, ranging from smartphones to computers to data centers to the Internet of Things (IoT).That's the reason why the Taiwan-based foundry's quarterly results can be used as a barometer to gauge the health of other companies as well. For example, Apple (NASDAQ: AAPL) is reportedly the top customer of TSMC's chips, accounting for 25% of the latter's top line. Apple taps TSMC's fabrication facilities to manufacture the processors used in iPhones and iPads.That's why TSMC's terrific third-quarter results, which were released on Oct. 17, tell us that the business of its top customer is likely to be in solid shape. The Taiwanese company reported a 36% year-over-year increase in revenue to $23.5 billion, along with a 54% jump in earnings. Its results bested Wall Street's expectations, and more importantly, the guidance suggests that its healthy growth is here to stay.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool