Yesterday, we told you that Apple supplier TSMC lowered its revenue forecast for the year, citing softer than expected sales of high-end smartphones. With that in mind, Mirabaud Securities analyst Neil Campling says that there is an oversupply of chips at TSMC which « has never been higher. » And he should know; Mirabaud has tracked TSMC’s inventory for over a decade…
« With the declines in iPhone X orders and the inventory issue at TSMC at record highs, which basically reflect a need to burn off inventory. Why? Because the iPhone X is dead. »-Neil Campling, analyst, Mirabaud Securities
