NEW YORK (TheStreet) -- A number of analysts are raising estimates ahead of Taiwan Semiconductor's (TSM) scheduled earnings release July 17. Of the 32 analysts polled by FactSet, 27 of them raised their estimates in the month of June.
The main source of that revenue momentum is coming from Apple (AAPL), which is expected to contribute from 13% to 15% of TSMC's revenue in the second half of this year, up from only 4% in the second quarter. TSM stock recently traded at $22.31, up nearly 28% for the year to date.
TSMC should see a very aggressive ramp-up of 20 nonometer (nm) revenue starting in the third quarter. According to DigiTimes, TSMC plans to operate at full capacity during the second half of this year.
Data from Best Stocks Now App
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