Apple chipmaker TSMC reportedly considers Japan expansion as China tensions continue
Summary
Shares of the worlds largest chip maker Taiwan Semiconductor Manufacturing Company rose as much as 5% on Wednesday morning in Asia after Morgan Stanley recommended the stock. Citing unnamed sources, the Journal reported that Japans government has signaled it would welcome the Apple supplier to build beyond its initial manufacturing plant in the country, though no decisions have yet been made. U.S. House Speaker Nancy Pelosis recent trip to Taiwan seemed to further inflame tensions, with Chinas government launching military drills and halting some Taiwanese imports in response. The U.S. has sought to reduce its reliance on foreign chip manufacturing by passing funding to help promote domestic production facilities. Foxconn, which has a large presence in China, also moved some Apple product assembly to Vietnam, Reuters reported in 2020.
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