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Taiwan Semi's Upbeat Outlook Is Welcome News for Chip Stocks -- Tech Check

Eric Jhonsa

rose 2.3% on Thursday after delivering a Q1 report that wasn't spectacular, but also didn't do anything to upend the view (now held by many) that chip industry sales are in the process of bottoming. Revenue, which was already known thanks to monthly sales reports, fell 16% annually in dollars, while EPS missed a FactSet analyst consensus by $0.02. The company also reiterated its full-year outlook for slight revenue growth, and its full-year capital spending budget of $10 billion to $11 billion.