Taiwan Semiconductor Manufacturing Co (TSMC) recorded a ninth consecutive quarter of near 30 per cent growth in November, with full-year sales on target to reach close to a record TWD3 trillion ($9.2 billion).

Sales in November rose 34 per cent year-on-year to TWD276.1 billion: revenue for the first 11 months of the year increased 31.8 per cent to TWD2.6 trillion.

The contract chipmaker is a key supplier to Apple, Qualcomm and MediaTek. It is benefitting from soaring demand for AI-capable products.

Data from research company TrendForce showed TSMC increased its lead in the global foundries sector during Q3, taking a 64.9 per cent share compared with 57.9 per cent in the same period of 2023, with revenue up 36 per cent to $23.5 billion.

TSMC’s sales in 2023 fell 4.5 per cent to TWD2.2 trillion, but turned around in early 2024.