Apple (NASDAQ:AAPL) may be behind an effort to build a chip plant costing up to $10 billion in upstate New York. Consulting firm Deloitte has pitched state officials on behalf of an unnamed tech manufacturer, the Albany Times Union reported.
Apple has been rumored to be interested in shifting its mobile processor production away from Samsung to other foundries. While the Korean company has been Apple’s main mobile chip supplier for years, with the two turning into bitter rivals in the smartphone and tablet industry, their other relationship is also under a cloud. Apple Insider reports on an article in the Albany Times Union, which says Deloitte is searching for a major semiconductor facility and that New York is the leading candidate for the estimated $10 billion plant. Apple, rich in cash resources, could easily make the investment.
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Taiwan Semiconductor Manufacturing (NYSE:TSM) is one of the companies that Apple may be looking to invest in to create a new supplier, while other suspects include Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM). According to the report, New York Governor Andrew Cuomo “seemed to acknowledge” in a radio interview that Apple was involved in what is a “top-secret plan.”
How Could This Affect Apple?
Investors will be happy to know that Apple is keen to stabilize its supply situation vis-à-vis Samsung before a problem arises. There were rumors earlier that the Korean company was looking to increase the prices of the chips for Apple, but Samsung eventually denied it. Still, it is no secret that the two rivals are at each other’s throats. In addition, a domestic investment from Apple will also earn it brownie points.