Apple is fighting for TSMC capacity as Nvidia takes center stage

Ha! Well if it isn't karma that has come for Apple.

(Apple is well known for shoving "lesser vendors" out of the way at TSMC)

[flagged]

Calling Nvidia niche feels a bit wild given their status-quo right now, but from a foundry perspective, it seems true. Apple is the anchor tenant that keeps the lights on across 12 different mature and leading-edge fabs.

Nvidia is the high-frequency trader hammering the newest node until the arb closes. Stability usually trades at a discount during a boom, but Wei knows the smartphone replacement cycle is the only predictable cash flow. Apple is smart. If the AI capex cycle flattens in late '27 as models hit diminishing returns, does Apple regain pricing power simply by being the only customer that can guarantee wafer commits five years out?

Explains why Apple is looking to diversify their fabs with Intel. If Intel can stay on their current trajectory and become a legitimate alternative they will do very well as a fab with additional available capacity.

...and then China invades Taiwan, and nobody ain't getting nothing.