TSMC earnings rebound adds to signs of chip recovery

New iPhone and 5G drive profit higher at Taiwan supplier

20191018 APPLE-IPHONE/CHINA

Shoppers try the new iPhone 11 Pro Max after it went on sale at the Apple Store in Beijing. © Reuters

KENSAKU IHARA, Nikkei staff writer

TAIPEI -- Taiwan Semiconductor Manufacturing Co.'s quarterly profit made a comeback thanks to demand for Apple's new iPhone and fifth-generation wireless communication equipment, in another sign that the global chip market is rousing itself from an 18-month slump.

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