Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is losing ground Wednesday. The semiconductor fabrication leader's share price was down 2.6% as of 11:45 a.m. ET, according to data from S&P Global Market Intelligence.

Texas Instruments published its third-quarter results after the market closed yesterday, and its performance and forward-looking statements are having ripple effects across the semiconductor industry. Not only did the company miss Wall Street's Q3 sales target, the company also issued guidance that came in far worse than analysts had anticipated. 

With revenue of $4.53 billion in Q3, Texas Instruments missed the average Wall Street target by roughly $60 million. While that's not a great sign, it's the company's forward projections that are dragging down TSMC stock. 

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Source Fool.com