- Morgan Stanley analyst Charlie Chan downgrades TSMC (NYSE:TSM) from Overweight to Equal-weight.
- Last month, the Apple supplier and world's largest contract chipmaker cut its annual growth target on trade war concerns and the cryptocurrency downturn that was evidenced in yesterday's Nvidia report.
- Apple suppliers including Lumentum and Qorvo have cut guidance this week citing softer orders from a key customer widely believed to be the tech giant. Analysts have cut shipment estimates for the newer iPhones with the XR singled out as an underperforming model.
- TSMC shares are down 4% to $36.99.
- Previously: Lumentum drops Q2 guide on shipment cut (Nov. 12)
- Previously: Apple supplier Qorvo cuts Q3 guidance (Nov. 13)
- Previously: Nvidia -17% on downside guide as crypto boom ends (Nov. 15)
TSMC -4% as Morgan Stanley goes neutral
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About TSM Stock
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Symbol | Last Price | % Chg |
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TSM | - | - |
Taiwan Semiconductor Manufacturing Company Limited |