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Re:TSMC Reports Q3 Earnings [pdf] by ksec on Thursday October 13, 2022 @10:25AM (#33191398)
You will also need to look at R&D spend and CapEx. Those profits are funnelled back to that. Basically it is a whole cycle, in order for fat profit margin you need to be at the leading edge in Tech, Yield and Volume. And all three of those requires R&D and CapEx. So you need Fat Profits margin to sustain it.

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