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Business Maverick: Apple prepares to get made-in-US chips in pivot from Asia

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The company is preparing to begin sourcing chips for its devices from a plant under construction in Arizona, marking a major step toward reducing Apple’s reliance on Asian production.

CEO Tim Cook made the disclosure during an internal meeting in Germany with local engineering and retail employees as part of a recent tour of Europe, according to remarks reviewed by Bloomberg News. He added that Apple may also expand its supply of chips from plants in Europe.

Shares of TSMC climbed as much as 2.9% in Taiwan trading on Wednesday after Bloomberg News reported on Cook’s remarks. Apple was little changed. “Regardless of what you may feel and think, 60% coming out of anywhere is probably not a strategic position,” he said. TSMC could theoretically introduce advanced production more quickly than it has so far announced. Apple also could potentially use the Arizona production for less complex components in its devices.

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