TSMC says third-quarter revenue hit by computer virus

TSMC faced a virus attack Saturday

(TSMC), the sole manufacturer of the iPhone's main processor, was shut down following a virus attack.

Shares of Taiwan Semiconductor Manufacturing Company Ltd fell more than 1.2 percent on Monday after the world's largest contract chipmaker and Apple Inc supplier said a computer virus outbreak will hit its third-quarter results.

Mark Li, an analyst at Sanford C. Bernstein, said in a report on Sunday technology giant Apple was one of the impacted customers but a swift recovery in the fourth quarter should keep the impact minimal. "We estimate the impact to third quarter revenue to be about three percent, and impact to gross margin to be about one percentage point", it said.

"The Company is confident shipments delayed in third quarter will be recovered in the fourth quarter 2018, and maintains its forecast of high single-digit revenue growth for 2018 in United States dollars given on July 19, 2018", TSMC said.

Read the transcript of the Smith College employee's call to campus police
Kanoute has demanded that Smith release the name of the staffer who called police on her, but the college has so far refused. That probe is being conducted by Sanghavi Law Office, which Hunter said will "conduct a thorough, external investigation".

It is unclear how the lost days of output would affect the Taiwanese firm, the latest to fall prey to a growing scourge. Cyber crime could cost businesses as much as $8 trillion in damage over the next five years, according to the World Economic Forum.

The chip manufacturer didn't specify what it was producing when this problem occurred, but given the timing it was nearly certainly the Apple A12. The company said it was confident shipments delayed in the third quarter will be recovered in the fourth quarter 2018, and maintained its forecast of high single-digit revenue growth for 2018 in USA dollars given on July 19, 2018. In the past, the U.S. company has employed foundries owned by Samsung Electronics Co., its rival in global mobile devices.

Apple did not immediately respond to a Reuters request for comment. More detailed information on the situation will be shared on Monday. Chief Executive Officer C C Wei had said TSMC's sales will rise this year by a high single-digit percentage in USA dollar terms, down from an already reduced projection of about 10 percent.

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