TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED By Maria Armental
Taiwan Semiconductor Manufacturing Co. American depositary receipts rose to a record high as the company disclosed optimistic guidance amid a global chip crunch.
The ADRs, which Thursday traded as high at $145, was recently at $141.74, up 7% for the day and on track for a record closing, according to FactSet.
TSMC, the world's largest contract chip maker, said it expects revenue this quarter to range from $16.6 billion to $17.2 billion and an increase in the mid- to high-20 percentage range for the year.
In addition, it said it planned to raise capital spending this year to a range of $40 billion to $44 billion, which would be a record.
TSMC is building a plant in Phoenix and another in southern Japan. It has also said it plans to expand capacity in the eastern Chinese city of Nanjing as well as in Taiwan. The company is currently assessing the feasibility of a new fabrication plant in Europe, Chairman Mark Liu said on the company's earnings call.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
01-13-22 1404ET
