To The Moon

$Apple(AAPL)$ Chief Executive Tim Cook confirmed at an event Tuesday that the tech giant will be one of $Taiwan Semiconductor Manufacturing(TSM)$ ’s first Arizona fab customers, while Intel Corp. hopes to join TSMC on the cutting edge of chip making by the end of 2023. Cook said Apple will buy chips fabricated at TSMC’s new U.S. manufacturing plant. On Tuesday, the White House announced, ahead of a visit from President Joe Biden, that TSMC will boost its investment in Arizona to $40 billion from $12 billion and will build a second silicon-wafer fabrication plant, or fab, in Phoenix. TSMC later confirmed that news. Apple shares finished the day down 2.5%, while the $DJIA(.DJI)$ dipped 1%. American depositary receipts of TSMC fell 2.5%, while the $Philadelphia Semiconductor Index(SOX)$ declined 2.4%, and the tech-heavy $NASDAQ(.IXIC)$ finished down 2% and the $S&P 500(.SPX)$ fell 1.4%. At the event, $Advanced Micro Devices(AMD)$ Chief Executive Lisa Su said AMD also expects to be “a big customer of both fabs.” AMD shares fell 4.6% Tuesday. “We could not do what we do without our partnership with TSMC,” Su said. “Which is why we are so excited about today’s milestone. A strong, geographically diverse, and resilient supply chain is essential to the global semiconductor industry.” $NVIDIA Corp(NVDA)$ Chief Executive Jensen Huang, who built the foundation of his company using the fab, said TSMC was “much more than a fab” and performed three miracles. “Miracle one: serve thousands of customers designing bespoke custom chips,” Huang said. “Miracle two: build them to order at extremely high or low volume; and miracle three: do so with technology at the limits of physics.” While Huang did not specifically state Nvidia would be an Arizona-plant customer, he was on hand to reiterate to those assembled that Nvidia was a lifelong TSMC customer. More information: https://www.marketwatch.com/story/apple-nvidia-reportedly-among-tsmcs-first-arizona-customers-while-intel-preps-for-return-to-cutting-edge-in-2023-11670357849?siteid=yhoof2