Taiwan Semiconductor TSM stock broke back below its 200 day moving average for the week ending September 15, 2023. TSM stock has a technical downtrend rating.
Chipmakers Are Slowing Down as Consumer Demand Drops
It’s not just TSM stock that took a beating last week. The entire semiconductor sector is being dumped on concerns that demand is slowing down for microchips.
Taiwan Semiconductor is rumored to have told its main suppliers to delay deliveries of high-end chip-making equipment as the world’s leading contract chip maker grows increasingly nervous about customer demand.
Weaker economic conditions, a slower recovery in China and slower end-market demand are forcing customers to be more cautious. There is a slowdown in sales of mobile phones, laptops, industrial and, more recently, automotive chips. That’s a lot of end markets that are slowing down.
Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s largest semiconductor manufacturing company. It is involved in the production and sale of integrated circuits (ICs) and semiconductors. TSMC fabricates chips for a wide range of applications, including consumer electronics, automotive, telecommunications, and industrial equipment. The company offers a variety of advanced chip technologies, such as 5nm, 7nm, and 16nm processes, and works with numerous global tech giants to manufacture their semiconductor designs. TSMC plays a crucial role in the global semiconductor industry, supplying chips to companies involved in the production of smartphones, computers, gaming consoles, and other electronic devices.
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