Apple orders boost TSMC profit, stock to record highs

Hong Kong

TAIWAN Semiconductor Manufacturing Co is on a roll.

The world's largest contract chipmaker has surged 32 per cent in 2016, climbing to its highest level versus MSCI Inc's global gauge of technology stocks on record. The US$156 billion company now accounts for 16 per cent of Taiwan's entire equity market value, the biggest proportion according to data stretching back 13 years, and none of the 33 analysts who cover it recommend selling the shares.