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Reuters
TSMC expects Q2 sales drop as clients struggle to clear inventory
TAIPEI (Reuters) -Chipmaker TSMC, a major Apple supplier, forecast a 16% plunge in sales for the second quarter as consumers grapple with an inventory glut while a weakening global economy clouds demand outlook. The world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC), said industry inventory levels were currently higher than expected and would only “rebalance to a more healthy level” in the third quarter. “Moving into second quarter 2023, we expect our business to continue to be impacted by customers’ further inventory adjustment,” Chief Financial Officer Wendell Huang said on a call on Thursday after TSMC reported the smallest growth in quarterly earnings in almost four years.
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