TSMC says skilled worker shortage delays start of Arizona chip production

Source: Reuters

TSMC says skilled worker shortage delays start of Arizona chip production

By Reuters
Published 5:43 AM EDT, Fri July 21, 2023

Shares of Taiwan Semiconductor Manufacturing Co slumped more than 3% Friday after the world’s largest contract chipmaker flagged a 10% drop in 2023 sales and said production due to start next year at its first plant in Arizona would be delayed.

On Thursday, TSMC (TSM) reported a 23% fall in second-quarter net profit — its first year-on-year drop in quarterly profit since 2019 — as global economic woes take a toll on demand for chips used in everything from cars to cellphones.

“While the company’s declining revenue and profit were disappointing, its long-term growth prospects remain encouraging,” said Brady Wang, associate director at Counterpoint Research. “Despite facing macroeconomic headwinds, TSMC’s long-term outlook remains robust, supported by mega trends like 5G and high-performance computing.”

As TSMC steps up its global expansion, the company said production at its first plant in Arizona will be delayed until 2025 due to a shortage of specialist workers.

-snip-

Read more: https://edition.cnn.com/2023/07/21/tech/tsmc-arizona-production-delay/index.html