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Taiwan Semi outlook bullish

Investor's Business Daily

The contract semiconductor manufacturer forecast $5.97 bil-$6.07 bil revenue this quarter, which would crush consensus of analysts polled by Thomson Reuters for $4.83 bil. Taiwan Semiconductor Manufacturing (TSM) said rising demand for mobile devices and an increased share of each smartphone sold globally prompted it to preannounce Q1 revenue. TSMC got about $10.80 for every high-end smartphone sold last year, and forecasts an average $13.90 this year. TSMC shares rose 2.8% to 20.72.