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TSMC (TSM +4.4%) has staged a strong two-day rally in the wake of its Q1 beat, above-consensus...

TSMC (TSM +4.4%) has staged a strong two-day rally in the wake of its Q1 beat, above-consensus Q2 guidance, and capex budget hike, and is close to its 52-week high of $19.25. On its earnings call, the world's top chip foundry said 28nm chips accounted for 24% of Q1 wafer revenue, up from Q4's 22%, predicted full-year 28nm sales will triple Y/Y, and raised its forecast for 2013 foundry industry growth to 10% from a prior 7%. TSMC also stated its 16nm process will enter volume production just a year after its 20nm process; the latter could happen as soon as late 2013.
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