CORRECTION: Taiwan Semi shares are trading lower after the company reported a year-over-year decrease in Q2 revenue results, issued Q3 revenue guidance below estimates, lowered its 2023 revenue forecast and announced Arizona N4 production will be delayed until 2025.
Portfolio Pulse from Benzinga Newsdesk
Taiwan Semi reported a year-over-year decrease in Q2 revenue results, issued Q3 revenue guidance below estimates, lowered its 2023 revenue forecast and announced Arizona N4 production will be delayed until 2025. As a result, its shares are trading lower.
July 20, 2023 | 5:22 pm
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Taiwan Semi's shares are trading lower due to disappointing Q2 revenue, lower than expected Q3 guidance, reduced 2023 forecast, and delayed Arizona N4 production.
The company's lower than expected Q2 revenue and Q3 guidance, along with the reduced 2023 forecast and delayed production, are all negative factors that are likely to impact the stock price negatively in the short term.
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