TSMC Drops as Weaker Smartphone Market Threatens Chip Demand
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Taiwan Semiconductor Manufacturing Co. fell for a fifth day in Taipei trading, its longest losing streak in two years, after at least four analysts published reports saying a stronger U.S. dollar may weaken smartphone chip demand.
Shares dropped 2.1 percent to close at NT$142.50 in Taipei, widening the decline this week to 7.5 percent and wiping $9.5 billion off its market value. Taiwan’s benchmark Taiex, of which TSMC is the largest member, fell 1.2 percent today and 2.5 percent for the week.