TSMC estimates losses due to Taiwan earthquake at almost $100 million

Taiwanese chipmaker TSMC has estimated that the earthquake on the island caused the company approximately $92.44 million in losses.

Here's What We Know

A few weeks ago, Taiwan was hit by the largest earthquake in at least 25 years. This is expected to lead to a 50 basis point drop in TSMC's gross margin in the second quarter, according to a document filed with the Taiwan Stock Exchange.

There were no power outages, and no structural damage to TSMC's fabs was found. In addition, critical equipment, including EUV machines, was not damaged. However, the company's losses are estimated at $92.44 million.

Source: Reuters