The chips are up for a Taiwan tech giant.

Hello, this is the Marketplace Morning Report from the BBC World Service.

I'm Stuart Clarkson in Fort Leanna Byrne and we're live from the UK.

It controls more than half the world's output of

advanced chips used in everything from Apple iPhones and electric vehicles to

Navidia's AI hardware and the Taiwan Semiconductor Manufacturing Company, T.S.M.C, has just made profits of $10.1 billion in the last three months.

That's up 54% on last year.

It's a bit of a surprise on Tuesday, ASML which supplies machines to T-S-M-C,

one that sales for 2025 were looking sluggish.

Well, Malcolm Penn is Chairman and Chief Executive of Future Horizons.

Let's get his reaction to today's news.

Well, I mean, there aren't superlatives invented yet to describe it.

I mean, it's like moving on water, too big to fail, the superlatives,

juggernaut.

I mean, these results are spectacular.

And partly it's also the timing, the third quarter is always traditionally strong for

for T-SMC because this is the period when they're busy churning out all of the chips for the new iPhone.

So their fads are full, not just for NVIDIA with their AI chips, but also with Apple with its new chips to the iPhone 16.

And there's two sides to their business.

There's the kind of the bread and butter side,

which is where they own 60% of the market roughly,

but at the leading edge, which is the AI and smartphones, they pretty much have a

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