Thursday July 17, 2014

TSMC Shares Fall on Apple, Qualcomm Order Loss Reports

Wasn't it just a week ago that TSMC's stock got a boost when it was reported that the company was supplying Apple with chips? Today the company's stock did an about-face after investors learned that Apple is already switching back to Samsung.

Shares of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) fell as much as 6 percent on Thursday after an analyst and Taiwanese media reported the likely loss of orders for next-generation chips from Apple Inc and Qualcomm Inc.