TAIWAN SEMICONDUCTOR ( TSM ) PROFIT ROSE 69 % LAST QUARTER . IS THE STOCK STILL CHEAP ?

What happened: Taiwan Semiconductor (NYSE:TSM) reported third-quarter results on October 15, with revenue of $46.72 billion above its own guidance and net profit up 68.7%, the strongest quarter in company history. Key numbers: Revenue $46.72 billion; net profit up 68.7%; gross margin 66.4%; closed Why it matters: Margins held at 66.4% while the company began mass production on its newest process, and the outlook went up rather than down. The article says the investment case runs mostly through customer budgets, since a handful of companies account for an enormous share of advanced capacity.

Taiwan Semiconductor (NYSE:TSM) reported third-quarter results on October 15, with revenue of $46.72 billion above its own guidance and net profit up 68.7%, the strongest quarter in company history.

Margins held at 66.4% while the company began mass production on its newest process, and the outlook went up rather than down. The article says the investment case runs mostly through customer budgets, since a handful of companies account for an enormous share of advanced capacity.