Taiwan Semiconductor Manufacturing Co Ltd, most likely better known to you as TSMC, just announced a good news-bad news scenario. The company, which manufacturers chips for companies like Apple, NVIDIA and Qualcomm, reported a 2.5% increase in first quarter profit to the equivalent of $3.1 billion, which met analysts’ expectations. That happens to be the good news.
The bad news is that revenue for all of 2018 is likely to grow at the low end of the company’s previously disclosed 10% to 15% range. The reason, as explained by TSMC Co-Chief Executive C.C. Wei, is that the rebound in China’s …