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Why Taiwan Semiconductor Manufacturing Stock Is Diving Following Nvidia News Today

August 9, 2022
Source: vnexplorer.net vnexplorer.net
News Snapshot:
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) shares are trading lower by 2.68% to $87.39 during Monday’s trading session in sympathy with NVIDIA after the company issued preliminary second-quarter revenue guidance below estimates and cited weaker gaming revenue. What Happened? Nvidia sees preliminary second quarter revenue of $6.70 billion versus the previous outlook of $8.10 billion. The company says the shortfall relative to the May revenue outlook of $8.10 billion was primarily attributable to lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds. Nvidia added that in addition to reducing sell-in, the...
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