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TMSC evacuates factory areas after Taiwan earthquake, shares fall- Bloomberg

Published 04/03/2024, 10:22 AM
Updated 04/03/2024, 10:22 AM
© Reuters.

Investing.com-- Taiwan Semiconductor Manufacturing Corp (TW:2330) (NYSE:TSM) (TSMC) evacuated some factory areas on Wednesday after an devastating earthquake hit Taiwan, potentially heralding production delays at the firm, Bloomberg reported. 

The world’s largest contract chipmaker had moved staff out of some areas, Bloomberg reported citing a TSMC spokesperson. The report comes shortly after Taiwan was hit with a 7.5 magnitude earthquake in the early hours of Wednesday, sparking tsunami warnings in the region and parts of Japan. 

Taiwan earthquake worst quake since 1999

It was not immediately clear what the full impact of the earthquake was on Taiwan, as well as TSMC’s infrastructure. A TSMC spokesperson could also not be immediately reached for a comment.

The epicenter of the earthquake was offshore from Hualien County, and had caused changes in water levels off the coast. The earthquake was also the worst to hit the island since 1999, Taiwanese news outlets reported. 

Taiwan suspended metro operations in major cities including Taipei in the direct aftermath of the earthquake. The quake was also seen knocking out power to over 300,000 homes and causing property damage across the island.

Any disruptions to TSMC’s production could present headwinds for the major technology firms that rank among its customers, including iPhone maker Apple Inc (NASDAQ:AAPL) and artificial intelligence giant NVIDIA Corporation (NASDAQ:NVDA).

Shares of the contract chipmaker fell 1.3% in Taiwan trade.

 

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