Why Taiwan Semiconductor Manufacturing Fell Today
Shares of foundry giant Taiwan Semiconductor Manufacturing (NYSE: TSM) were falling today, down as much as 3.3%, before recovering to a 2.1% decline as of 1:52 p.m. ET.
Taiwan Semi surged last week on the news Warren Buffett's Berkshire Hathaway had taken a sizable stake in the semiconductor foundry giant. So it's not that surprising to see some investors locking in short-term gains on Monday.
This is especially true as the Federal Reserve has reiterated its hawkish commentary even in the face of falling inflation, as well as broader lockdowns in China amid the first reported COVID deaths in the country in six months. Moreover, TSMC announced it would build its most leading-edge manufacturing capabilities in the U.S., which will be an expensive endeavor.
Source Fool.com
