Investing.com-- Asian chipmaking stocks fell sharply on Friday after sector major TSMC flagged a weak outlook for the semiconductor industry, even as demand from artificial intelligence helped the firm clock stronger first-quarter earnings.TSMC offered a middling forecast for semiconductor industry growth in 2024, with weak demand for consumer electronics likely to offset any boosts from the AI industry.
But TSMC’s outlook largely overshadowed the positive earnings, especially given that the firm is considered as a bellwether for the semiconductor industry.This sparked questions over just how much demand the AI industry was actually providing for chipmakers, and whether it would be sufficient in offsetting weak demand from other sectors, specifically consumer electronics.
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