Why Taiwan Semiconductor Manufacturing Shares Are Volatile Following Apple News

Taiwan Semiconductor Mfg. Co. Ltd. TSM shares are trading lower by 2.01% to $71.56 Wednesday morning following reports suggesting the company's customer, Apple Inc AAPL, will back off of increasing production of its new iPhones. It was also reported the company rejected TSMC's planned chip price hikes.

According to a Bloomberg report citing people familiar with the matter, Apple told suppliers to pull back on efforts to increase the iPhone 14 product family by as many as 6 million units in the back half of this year "after an anticipated surge in demand failed to materialize."...Read More

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According to data from Benzinga Pro, Taiwan Semiconductor Manufacturing has a 52-week high of $145.00 and a 52-week low of $70.70.