NEW YORK/BANGALORE :Warren Buffett's Berkshire Hathaway Inc slashed its stake in Taiwanese contract chip-maker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.Berkshire cut its position in Taiwan Semiconductor Manufacturing Co Ltd (TSMC) by 86.2 per cent to 8.2
NEW YORK/BANGALORE :Warren Buffett's Berkshire Hathaway Inc slashed its stake in Taiwanese contract chip-maker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc.
The announcement comes roughly three months after Berkshire unveiled it bought more than $4.1 billion worth of TSMC stock, which sent its shares soaring.Depositary shares in TSMC, which did not immediately respond to a request for comment, have surged almost 32 per cent this year, closing at $97.96 on Tuesday.
But the world's largest contract chip manufacturer last month said revenue in the first quarter is likely to dip 5 per cent as it weathers a global downturn in the chip industry because of softening consumer demand for electronics. TSMC executives have said they do not expect market conditions to improve until the second half of the year.
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