Apple seems to be the only technology company that is not affected by the global recession. The iPhone maker is actually looking to expand by preparing to start getting chips for its devices from a factory under construction in Arizona in the United States.
As reported by Bloomberg News, Apple may also expand chip supply from factories in Europe, referring to Apple Chief Executive Officer, Tim Cook, at an internal meeting in Germany with local engineering and retail employees. Apple itself declined to comment when contacted by Reuters.
According to the report, Cook was likely referring to the Arizona factory which will be run by Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chip maker and Apple's main supplier.
Last year, TSMC said it had started construction on a site in Arizona where it plans to spend $12 billion to build a computer chip factory, and plans to begin volume production of chips using its 5-nanometer production technology by 2024.
Earlier this month, TSMC also said it was building a building that could serve as its second chip factory in Arizona.
The United States has been encouraging foreign technology companies to manufacture chips domestically and actively supporting local research, development, and manufacturing after passing the CHIPS Act.