Why Taiwan Semiconductor Stock Was Sliding Today

Weakness in the smartphone market seemed to weigh on the stock after its first-quarter earnings report.Shares of Taiwan Semiconductor (TSM -3.54%) were heading lower today after the world's largest semiconductor manufacturer posted strong results in the first quarter but offered a cautious outlook due to weakness in the smartphone and PC markets.As a result, the stock was down 3.1% as of 11:19 a.m. ET on Thursday. TSMC returns to profit growth, but it's not enoughThe sell-off in TSMC, as the company is also ...