TSMC cuts its 2022 capital spending target by ~10%, expecting to spend ~$36B on equipment, down from a prior $40B+ estimate, suggesting a deeper tech downturn (Debby Wu/Bloomberg)

Debby Wu / Bloomberg:
TSMC cuts its 2022 capital spending target by ~10%, expecting to spend ~$36B on equipment, down from a prior $40B+ estimate, suggesting a deeper tech downturn  —  Taiwan Semiconductor Manufacturing Co. slashed its 2022 capital spending target by roughly 10%, a dramatic sign of trouble …