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Chip giant TSMC warns of 'excessive inventory' at clients

Company's profit soared over 76% to record in April-to-June quarter

Taiwanese chip giant TSMC racked up a record net profit in the quarter from April to June, but analysts warn of economic headwinds over the rest of the year.   © Reuters

TAIPEI -- Taiwan Semiconductor Manufacturing Co. on Thursday said its profit surged over 76% to a record level in the April-to-June quarter, but also warned of "excessive inventory" at its clients over the rest of the year and beyond, potentially tainting the outlook for the world's biggest contract chipmaker.

TSMC supplies nearly all major semiconductor producers, from Apple and Qualcomm to Nvidia and Broadcom, and its earnings are often seen as a key barometer for demand in the broader electronics sector.

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