Apple to source chips from Arizona
Apple CEO Tim Cook said on Tuesday that the tech giant would source some of its chips from Arizona as the company looks to diversify its supply chain, according to Bloomberg.
The news outlet, citing an internal meeting that Cook had in Germany with local engineering and retail employees, added that the Apple chieftain said the tech giant would be buying from a plant in Arizona that starts in 2024 and may also look to buy in Europe.
Taiwan Semiconductor is currently building a plant in the Grand Canyon State that is scheduled to be completed in 2024.
Earlier this month, it was reported that Taiwan Semiconductor was planning a multi-billion dollar expansion to its Arizona factory.
Intel is also in the process of expanding its plant in Ocotillo, Arizona and recently disclosed that it had partnered with Brookfield Infrastructure Partners (BIP) in a deal worth up to $30B to help pay for its expansion plans.
During the meeting, Cook said that 60% of the world's processors come from Taiwan, but added that "regardless of what you may feel and think, 60% coming out of anywhere is probably not a strategic position."
This shows signs that Apple is looking at diversifying it's production chain and not be too over reliant and leave all their eggs (or chickens)in one basket.
$Taiwan Semiconductor Manufacturing(TSM)$ $Intel(INTC)$
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hope it will be going up