TAIPEI -- Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, downgraded earnings forecasts on Friday owing to a defective chemical that disrupted an advanced production site for Nvidia, Huawei Technologies and other big semiconductor companies.
TSMC said the production problems will cut revenue by as much as $550 million for the quarter ending in March. The company now expects revenue of $7 billion to $7.1 billion -- the lowest since the first quarter of 2016 -- compared with the previous projection of up to $7.4 billion.
