TSMC announcement could actually be a step backwards for US Apple chips

Yesterday’s TSMC announcement of a $100B investment in the US was notable for its lack of any specifics – including whether any of the money had been announced previously.

But a new investment note suggests that it could even represent a backwards step when it comes to making Apple chips in the US …

The story so far

Apple first announced its plan for ‘Made in America’ chips back in 2022, with the news hailed as one of the success stories of the US CHIPS Act. The initiative will see a series of TSMC chipmaking…