Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) shares are trading lower by 2.01% to $71.56 Wednesday morning following reports suggesting the company's customer, Apple Inc (NASDAQ:AAPL), will back off of increasing production of its new iPhones. It was also reported the company rejected TSMC's planned chip price hikes.
According to a Bloomberg report citing people familiar with the matter, Apple told suppliers to pull back on efforts to increase the iPhone 14 product family by as many as 6 million units in the back half of this year "after an anticipated surge in demand failed to materialize."...Read More
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According to data from Benzinga Pro, Taiwan Semiconductor Manufacturing has a 52-week high of $145.00 and a 52-week low of $70.70.
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