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Apple supplier TSMC cuts growth target again on trade worries

Cryptocurrency downturn adds to troubles for world's top chip foundry

TSMC, the world's biggest contract chipmaker, supplies advanced processors for iPhones.   © Courtesy of TSMC

TAIPEI -- The world's biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co., has cut its annual revenue growth target for the third time this year as concerns mount over the impact of the bitter trade battle between Washington and Beijing.

The Taiwanese company, which is a bellwether for the chip industry, said it had not yet felt the impact of the tariffs imposed last month by the U.S. on $200 billion worth of Chinese goods. However, the weaker than expected forecast for annual growth raised fears that this could be about to change.

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