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Chipmakers See ‘Breathtaking’ Drop in Demand as Recession Looms

  • Samsung and AMD numbers miss projections, TSMC bucks trend
  • Latest weak results stoke fears that a recovery is farther out
Bloomberg business news
WATCH: Samsung Electronics Co. posts its first profit drop since 2019. Youkyung Lee reports.Source: Bloomberg
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Signs are piling up that the tech downturn may be deeper and longer-lasting than feared. 

After years of record capital spending, chipmakers are warning on a weekly basis that demand is sputtering. In the latest sign of trouble, Samsung Electronics Co. and Advanced Micro Devices Inc. reported disappointing results within hours of each other that widely missed projections.