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.Source: EE Times
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.
TSMC and UMC see sales rebounding
Posted on Friday, May 08 2009 @ 15:33 CEST by Thomas De Maesschalck