Taiwan chipmaker UMC warns of muted auto, industrial demand

TAIPEI: Taiwanese chipmaker UMC said on Wednesday it expected a rise in wafer shipments in the second quarter as inventory levels for computing, consumer and communications segments improved, but warned of muted auto and industrial demand.

WHY IT’S IMPORTANT

Investors have been on edge about chip demand after UMC’s much larger peer TSMC shocked the market last week by dialling back its expectations for the sector’s growth this year, especially in more mature technologies used in sectors like autos.