Apple has supply constraints; shift in global manufacturing locations; Intel and Samsung better positioned now; Samsung has leading-edge plant in Texas, Intel developing one, TSMC's next-gen Arizona plant not ready until 2029; Apple needs to diversify supply chain; Apple and TSMC have been inextricably linked since iPhone launch 19 years ago.

Apple up over 6000%, TSMC up over 3500% since iPhone launch; stocks have enjoyed technology collaboration.

Supply constraints in memory take long time to get next-gen production up; AI data centers sucking up available supply; many other technology companies now looking for these solutions whereas Apple was biggest purchaser for last decade; Apple needs to diversify more.