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TSMC Quarterly Profit Surges 76 Percent, Beats Market Estimates on Strong iPhone 13 Demand

Taiwan Semiconductor Manufacturing (TSMC) reported a 76.4 percent jump in second-quarter profit on Thursday and beat market estimates on strong demand for the iPhone 13 despite record global inflation levels. The chipmaker also benefitted from solid sales of high-performance computing (HPC) chips used in 5G networks and artificial intelligence.

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