Warren Buffett’s Berkshire Hathaway has sold 86% of its $4.1B stake in Taiwan Semiconductor Corp. (TSMC). Berkshire first reported its stake in TSMC in November, holding 60 million shares of the Asian chip maker.
- According to a regulatory filing on Tuesday, Berkshire has sold 51.8 million shares of TSMC in the last three months.
- On news of the share sales, TMSC shares fell more than 3%; they closed at $92.76, down more than 5% for the day.
- The pandemic fueled an increase in demand for smartphones and other electronic devices, leading to a global semiconductor shortage.
- The recent downturn in global markets, coupled with high inflation and reduced demand for consumer electronics, has weighed on the outlooks of chip makers.
- Global shipments of smartphones decreased by 11.3% in 2022, its lowest level since 2013.
