TSMC Falls Most in Five Months After Outlook Cut, Arizona Delay
- Investors fear the market slump may last longer than expected
- Washington is trying to reduce global reliance on Asia supply
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Taiwan Semiconductor Manufacturing Co. fell the most in more than five months after cutting its outlook and postponing production at its Arizona project to 2025, underscoring the challenges of expanding abroad during a protracted electronics market slump.
The main chipmaker for Apple Inc. and Nvidia Corp. slid as much as 3.8% during early trading in Taipei after projecting a 10% fall in sales this year, versus previous guidance for a single-digit decline. Shares in chip firms Tokyo Electron Ltd. and ASML Holding NV, TSMC’s primary gear suppliers, slid in Europe and Asia. Memory chipmakers Samsung Electronics Co. and SK Hynix Inc. also fell in Seoul, while Nvidia declined more than 3% in the US.