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Taiwan Semiconductor Manufacturing (TSM) stock fell Monday to its 50-day line, after the company got downgraded late Sunday due to excess inventory and other issues. In a research report, Michael McConnell, an analyst for Pacific Crest Securities, downgraded TSMC to underperform from sector perform. He has no price target on the company. TSMC is the leading chip industry foundry. Its customers include Sony (SNE), Qualcomm (QCOM), Nvidia (NVDA) and Scalper1 News
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