TSMC boosts 2020 revenue forecasts as Covid-19 transforms digital demand

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen on one of its office buildings in Tainan, Taiwan August 20, 2020. REUTERS/Ann Wang/File Photo

TAIPEI: Taiwan Semiconductor Manufacturing Co Ltd (TSMC) hiked its revenue outlook again this year after logging record quarterly profit, noting the coronavirus pandemic was driving demand for advanced chips.

The chip sector has been one of the rare industries benefiting from the virus with more people investing in premium devices as they spend longer hours at home and as corporations seek to add more bandwidth for remote workers.