Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Apple prepares to source chips from Arizona plant - Bloomberg News

Published 11/15/2022, 06:02 PM
Updated 11/15/2022, 06:06 PM
© Reuters. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

© Reuters. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

(Reuters) - Apple Inc (NASDAQ:AAPL) is preparing to begin sourcing chips for its devices from a plant under construction in Arizona in the United States, Bloomberg News reported on Tuesday.

The company may also expand its supply of chips from plants in Europe, the report said, attributing it to remarks by Chief Executive Officer Tim Cook at an internal meeting in Germany with local engineering and retail employees.

Apple declined to comment when contacted by Reuters.

According to the report, Cook was likely referring to an Arizona factory that will be run by Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a major supplier to Apple.

Last year, TSMC said it had started construction at a site in Arizona where it planned to spend $12 billion to build a computer chip factory, and planned to start volume production of chips using its 5-nanometer production technology in 2024.

© Reuters. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

Earlier this month, TSMC also said it was constructing a building that could serve as its second chip factory in Arizona.

The United States has been encouraging foreign tech firms to manufacture in the country and has actively supported local research, development and manufacturing after passing its CHIPS Act.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.