Chipmakers see demand drop as recession looms

Big player: An employee approaches a locker at a lab at the Taiwan Semiconductor Research Institute in Hsinchu. The country is at the forefront of the chip sector with TSMC ranking as the world’s most advanced chip maker. — Reuters

SIGNS are piling up that the tech downturn may be deeper and longer-lasting than feared.

After years of record capital spending, chipmakers are warning on a weekly basis that demand is sputtering.