Lack of smartphone demand leads to oversupply of semiconductor chips
📲 The market’s demand for smartphones was fallen slightly to the wayside, and the semiconductor suppliers that have been voicing fears of a shortage now have an oversupply of chips.
Taiwan Semiconductor Manufacturing Company, an Apple supplier of semiconductor chips, said in its second-quarter earnings call that the company expected the semiconductor supply chain would need a few more quarters to re-balance itself. With most manufacturers' inventories increasing, it isn’t all good news. “Demand continues to exceed our ability to supply,” says Taiwan Semiconductor Manufacturing Company’s CEO C.C. Wei. Semiconductor suppliers have noted that they will be heavily-monitoring purchasing patterns of consumers over the next few quarters to avoid any further miscalculations in the forecast.
Medical experts are warning that a prolonged strike at ports along the East and Gulf coasts could disrupt the supply of life-saving medications.