TSMC's Arizona Chip Production Delayed Due to Skilled Worker Shortage
TL;DR Summary
Taiwan Semiconductor Manufacturing Co (TSMC) reported a 10% drop in projected 2023 sales and announced a delay in the start of chip production at its first plant in Arizona until 2025 due to a shortage of skilled workers. The company's second-quarter net profit fell by 23% as global economic challenges impacted chip demand. Despite short-term uncertainties, TSMC remains optimistic about its long-term growth prospects, driven by trends like 5G and high-performance computing. Analysts expect a strong outlook for TSMC in 2024 and beyond, particularly due to its leading position in AI chip manufacturing.
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