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Despite China’s threat, profit of Taiwan’s largest semiconductor company increased by 80 percent

The security of Taiwan, the hub of semiconductor manufacturing, is being threatened by China. Despite this, Taiwan’s semiconductor industry is growing rapidly. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, reported a nearly 80 percent year-on-year profit in the third quarter. This is the company’s highest growth in two years.

American smartphone maker Apple Its stock also gained over 4 per cent on Friday on strong quarterly results from major supplier TSMC. However, TSMC has cautiously forecast the demand in the coming months. The company also plans to reduce its spending by a minimum of 10 per cent for this year. This Asia’s highest-value listed company said that it will not invest more in the next year. Analysts at Daiwa Capital Markets say that investors should take advantage of the low price of TSMC shares. The company’s stock has fallen more than 30 percent this year.

Taiwan says that only if it is safe, the supply of semiconductors will also remain intact. Taiwan’s Economic Affairs Minister Wang Mei Hua, who visited the US, said that if Taiwan remains safe, then only the global supply of semiconductors will be protected.

China in the last few months Taiwan But military pressure has increased. Taiwan is getting US support. America has also supplied him with weapons. Wang said Taiwan wants to increase cooperation with the US to maintain the supply chain. He said that Taiwan has an important role in advanced technology. If there is interference from China in Taiwan, then it will also affect China. He said that if TSMC is captured by military force, it will stop its operations. US Secretary of State Antony Blinken has said that if Taiwan suffers, it will have a very bad effect on the global economy. China and Taiwan have disputed for many years. Taiwan is also angered by Chinese companies’ attempts to wrongfully acquire the semiconductor industry’s talent and technology from Taiwan.

(This news has not been edited by digitnews team. It has been published directly from Syndicate feed.)

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