TSMC guidance dings Apple shares

A miss and dim guidance from Taiwan Semiconductor (TSMC) — which pointed to a “very high-end smartphone” as part of demand softness — is dinging Apple while other chipmakers move down.

Analysts say the smartphone in question is the iPhone. Apple is down 1.7% after today’s open. TSMC also says it expects growth this year of 5% for the global semiconductor industry, weaker than its earlier forecast of 5%-7% growth, and 8% for contract chipmakers, lower than its previous outlook for 9%-10% growth.

TSMC is the world’s largest dedicated independent semiconductor foundry, Its headquarters and main operations are located in the Hsinchu Science and Industrial Park in Hsinchu, Taiwan.

Like this article? Consider supporting Apple World Today with a $5 monthly Team AWT membership.