TSMC far from expected profits with the cryptomining
TSMC, chips maker for Apple, says it is doing well with smartphones but the demand for those using the products for crypto has decreased
Apple chip maker TSMC said it is doing well with the sale of smartphones, however, it lowered the demand of users who use the products for cryptomine and therefore won little this year in relation to what it predicted.
Taiwan Semiconductor Manufacturing Company (TSMC), is the world’s largest independent semiconductor smelter and predicted that its fourth-quarter revenue would increase only a couple of percentage points, forecasting revenues between $ 9.35 billion and $ 9.50 billion.
TSMC, based in Taiwan, is not only the world’s largest semiconductor smelter, but was the first one founded in 1987 by Morris Chang, who is considered the godfather of the semiconductor industry. The company has high profile clients such as Apple that represents 17% of its profits.
The consortium listed on the Taiwan Stock Exchange and the New York Stock Exchange, argued that while there is still a strong demand in the smartphone sector, the cryptocurrency application has drastically decreased.
High-performance computers linked to digital coin mining have been affected. TSMC even assured the fact that the intermediate-level smartphone seems to stagnate, but the strong demand for high-end devices around the world represents the one with more commissions from TSMC.
L.Sáenz
Source: Diario Bitcoin
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