Taiwanese foundries TSMC and UMC reports growing demand for computers and other consumer gadgets boosted sales in April. TSMC says April sales were up 60 percent from March, and rival UMC also witnessed a 50 percent revenue growth. However, TSMC's sales are still down 22.6 percent year-over-year, while UMC's sales dropped 19 percent from a year earlier.
Unconsolidated sales of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) were T$21.75 billion ($657 million) last month, down 22.6 percent from a year earlier, its smallest annual drop in six months. But April sales jumped 60 percent from March, its second straight month-on-month rise.
Before the result, Credit Suisse was convinced of TSMC's improvement and raised its 2009 earnings-per-share forecast by 54 percent.
"In our view, longer-term investors should stay the course in a company executing well and maintaining share in a competitive environment," Credit Suisse analyst Randy Abrams wrote in a research note earlier this week.
Crosstown rival United Microelectronics Corp (UMC) saw April sales reach T$6.877 billion, down 19 percent from a year earlier but up from March's T$4.541 billion.