Tag: consumer spending

  • Apple News is Taking a Bite Out of Chip Stocks

    Apple News is Taking a Bite Out of Chip Stocks

    Investors may want to avoid chip stocks at the moment. All after Apple said it would scrap plans to increase production of its iPhones thanks to weaker than expected demand.  STMicro (STM), where Apple accounted for 20% of the company’s 2021 revenue, was down about 6% in pre-market.  Taiwan Semiconductor (TSM) was also down about…