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Why Apple Chip Supplier TSMC's Board Approved $2.8B Spending

Benzinga2021-04-23

Taiwan Semiconductor Mfg. Co. Ltd.TSM 1.88%, a foundry that supplies chips to the likes ofApple IncAAPL 1.17%, is taking steps to alleviate thechip shortage which has come to plague companies cutting across sectors.

What Happened:At a special meeting of TSMC's board held Thursday, the board approved a $2.89 billion capital spending plan. The company said the investment will be made toward installing mature technology capacity.

The company approved in January a CapEx plan of $25 billion to $28 billion to develop advanced chips and building plant capacity.

Earlier this month, TSMC said it would allocate $100 billion over the next three years to increase production capacity.

Why It's Important: Theautomobile, as well as consumer electronics industries, are reeling from chip shortage, which has forced production shutdowns and delayed launches.

Chipmakers have stepped up to resolve this crisis.Intel CorporationINTC 1.77%announced a $20 billion investment plan to build new fabs in Arizona, as it committed to a hybrid manufacturing model.

The capacity expansion will likely help the Taiwanese foundry to take advantage of the opportunity presented by the chip crunch.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • Hi5
    ·2021-04-26
    Good news
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  • Irene104
    ·2021-04-23
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      Gd
      2021-04-24
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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      2021-04-26
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      2021-04-25
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    ·2021-04-23
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    • Limth
      good news
      2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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      Done
      2021-04-23
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      2021-04-23
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      2021-04-23
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  • OH WEI XIANG
    ·2021-04-23
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    ·2021-04-23
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      SOar
      2021-04-23
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    ·2021-04-23
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      2021-04-23
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      done
      2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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    ·2021-04-23
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