Focus Taiwan
Date: 2019/01/19
By: Jeffrey Wu and Frances Huang
Taipei, Jan. 19 (CNA) Several foreign brokerages have cut their target prices for
In a research note, one Asian brokerage firm said that increasing weakness in global demand in recent months has prompted TSMC to issue a lower-than-expected sales forecast for the January-March period.
The falling demand boosted inventory levels in the global semiconductor industry, prompting TSMC to adjust its inventories, sending shipments lower in the first quarter.
As a result, the securities house has lowered its target price for TSMC shares to NT$254 (US$8.25) from NT$260, predicting that inventory adjustments could continue into the second quarter. [FULL STORY]