UNCERTAINTY: One analyst said that until virtual currency is regulated, he would be worried about cryptocurrency volatility in relation to TSMC earnings estimates

Taipei Times
Date: Apr 21, 2018
By: Lisa Wang  /  Staff reporter

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday saw its market value shed NT$400 billion (US$13.6 billion) after the chipmaker unexpectedly cut its revenue growth forecast for this year to 10 percent annually on weak demand for Apple inc’s iPhones and uncertainty over cryptocurrency mining demand.

Three months ago, TSMC estimated that its revenue would grow between 10 and 15 percent this year in US dollar terms.

TSMC shares tumbled 6.34 percent to NT$229 yesterday, the lowest they have been in four months. That slashed the company’s market value to about NT$5.94 trillion from NT$6.34 trillion on Thursday.

Turnover of the stock nearly quadrupled on the Taiwan Stock Exchange, with about 128 million shares changing hands, up from 33 million shares the previous session.
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