Apple, chipmaker stocks fall after TSMC delivers weaker-than-expected outlook
Shares of Apple Inc. and several chipmakers are down in Thursday morning trading after Taiwan Semiconductor Manufacturing Co. Ltd. delivered a June-quarter outlook that came up short of expectations. Susquehanna analyst Mehdi Hosseini wrote Thursday that he and his team were "lowering our estimates for TSM to account for a steeper than expected inventory digestion by premium Smart Phone customers, particularly Apple." Apple's stock is down 1.9%, while Intel's stock is off 2.3%. Other chipmakers have seen their shares hit as well, including Nvidia Corp. , Qualcomm Inc. , Broadcom Ltd. , and Applied Materials Inc. . The PHLX Semiconductor Index is off 2.8%, while the S&P 500 is down 0.5%.
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