Top chip foundry TSMC (NYSE:TSM) is up 2% after reporting Q3 results. Though revenue declined...

Top chip foundry TSMC (NYSE:TSM) is up 2% after reporting Q3 results. Though revenue declined 3.6% Q/Q, and is expected to fall another 1-3% in Q4, the numbers are better than archrival UMC's results (I, II). In addition, TSMC predicts its 2012 sales growth will be "several percentage points higher" than the 3-5% growth it expects for the chip industry.