Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電), the world's largest supplier of made-to-order chips, said it may post record sales in the fourth quarter, beating its expectations, as analysts forecast strong cell-phone demand.
The company's sales in the first two months of this quarter increased to NT$38.8 billion (US$1.14 billion), or 30 percent, from NT$29.8 billion in the same period a year earlier, based on TSMC's monthly reports. The company's third-quarter sales were NT$54.9 billion. The forecast was in line with analysts' expectations, said Johnny Chen, a Deutsche Bank analyst.
"The company's fourth-quarter revenue will probably increase by 5 percent from the third quarter," said Chen, who has a "buy" rating on the stock. "Analysts are expecting a 4 percent to 6 percent improvement in net income from the previous quarter."
Demand for chips used in mobile phones has been stronger than for personal computers or consumer electronics, Chen said.
Motorola Inc, the world's No. 2 cellphone maker, has been increasing orders with TSMC, he said. TSMC offered no explanation of why fourth quarter sales may rise to a record.
The company said on Oct. 28 that it expects wafer shipments to grow by less than 10 percent in the fourth quarter from the third.
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