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TSMC Breaks Earnings Records Thanks to Increasing Demand for iPhone 7
Thanks to a boost from supplying parts for the increasing demand of the iPhone 7 and iPhone 7 Plus, Taiwan Semiconductor Manufacturing Company has raised its forecast for 2016. Specifically, the manufacturer expects a revenue growth of between 11 and 12 percent, whereas it was previously holding out only for an increase of between 5 and 10 percent for the year (via Reuters).Third quarter net profit jumped 28 percent from previous quarters to $3.1 billion, which came in above analyst predictions of an approximately $2.9 billion forecast for the July-September quarter. It also set a new quarterly record for the company in the net profit category, which previously sat at $2.5 billion.