TSMC relying 2018 iPhone to improve financial after bad quarter

Chip manufacturer and apple partner says it will grow by "a high single-digit percentage" this year, rather than 10 percent.

 TSMC factory

The major Apple partner TSMC has had a significant impact the growth of its capital and its share of the capital. Bloomberg News reported Thursday. And with Apple's TSMC's most important customer, this fall's iPhones will mark a crucial test.

The company, which is Taiwan's largest, is counting the demand for help offset the cryptocurrency. With the crypto revoluti not paying dividends for them anymore, the success of this year's iPhone cycle becomes hugely important to TSMC's bottom line.

In May, TSMC reportedly began producti this year's iPhones, which is expected to be the first 7-nanometer A-series chip. The cycle is expected to feature new iPhones when it arrives this fall.

In January, TSMC reportedly reached a deal to provide all of the "A12" chips for the 2018 iPhone line.

According to CEO C. C. Wei, TSMC now claims sales by "a high single-digit percentage" this year, after previously claiming 10 percent,. At the same time, the company is forecasting between $ 8.45 billi and $ 8.55 billi in the current quarter, down from the previously projected $ 8.68 billi.

The company also said that it will reduce its capital spending this year to $ 10 …

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