Apple, chipmaker stocks fall after TSMC delivers weaker-than-expected outlook

Shares of Apple Inc. AAPL, -1.96%and several chipmakers are down in Thursday morning trading after Taiwan Semiconductor Manufacturing Co. Ltd. TSM, -5.74%delivered a June-quarter outlook that came up short of expectations. Susquehanna analyst Mehdi Hosseini wrote Thursday that he and his team were "lowering our estimates for TSM to account for a steeper than expected inventory digestion by premium Smart Phone customers, particularly Apple.

" Apple's stock is down 1.9%, while Intel's stock is off 2.3%. Other chipmakers have seen their shares hit as well, including Nvidia Corp. NVDA, -2.10%Qualcomm Inc. QCOM, -3.66%Broadcom Ltd. AVGO, -2.26%and Applied Materials Inc. AMAT, -3.20%The PHLX Semiconductor Index SOX, -3.21%is off 2.8%, while the S&P 500 SPX, -0.31%is down 0.5%.