Tower Semiconductor’s Q4 revenue drops on softening demand for auto chips, ET Auto
Various chipmakers in their latest quarterly earnings have signaled the beginning of a supply glut in the auto sector, that is likely to weigh on demand for companies such as Tower Semiconductor.Israel-based contract chipmaker Tower Semiconductor posted a decline in its fourth-quarter revenue on Wednesday, hurt by uncertainty in demand from the automotive sector.The company said the Israel-Hamas war was not impacting its operations or its supply chain.Its Nasdaq-listed…