Apple Jitters Mount on Concerns of Waning Smartphone Demand
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Apple Inc. and a slew of chipmakers fell Thursday after Taiwan Semiconductor Manufacturing Co., the leading chip manufacturer for the smartphone industry, issued a growth forecast that rekindled concerns that the handset boom is waning.
Taiwan Semiconductor on Thursday predicted that sales for the current quarter will be a billion dollars less than analysts had projected. That followed a report by the International Monetary Fund earlier this week saying smartphone shipments declined for the first time, a reminder that the best days may be in the past.