TAIPEI (Reuters) -Taiwanese chipmaker TSMC warned on Thursday that first-quarter revenue would drop as much as 5% and it would slash annual investment as the major Apple Inc supplier expects softer demand due to a slowing global economy.
The bearish outlook follows a forecast-beating 78% jump in fourth-quarter profit, underscoring the depth of a sharp slowdown in a global technology sector that is grappling with worsening consumer demand brought about by decades-high inflation rates, rising interest rates and an economic downturn.
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