Apple’s possible return to Intel factories is not a threat to TSMC, which remains “the most trusted AI compounder,” according to a new research report from Bernstein SocGen Group.
One analyst claims Apple’s deal with Intel poses no threat to TSMC, especially considering Intel’s technological lag and the relatively “small” number of chips involved.
Bernstein issued an interesting report today, noting that the chip fabrication deal between Apple and Intel, which was reportedly almost official after the initial agreement, does not pose a threat to TSMC.
Bernstein analyst Mark Li believes there are “no signs that Intel will narrow the gap with TSMC’s technology,” and thinks the chip fabrication deal between Apple and Intel likely only covers “small” volumes. Therefore, Li believes TSMC remains the most cost-effective choice for Apple.
For those who may not be aware, in its tentative partnership with Intel, Apple will likely utilize Intel’s 18A-P process for its base M7 chip expected to ship in 2027. What’s more, Apple is now expected to make its A21 chip launching in 2028 on either Intel’s 18A-P process or the more advanced 14A.
Note that Apple has obtained PDK samples from Intel to evaluate its 18A-P process. Similarly, GF Securities believes that Apple’s upcoming ASIC – dubbed Baltra and expected to launch in 2027 or 2028 – will also utilize Intel’s EMIB packaging.
Going back in time, although Samsung’s foundry technology is improving, Bernstein analysts argue that it is still subpar compared to TSMC, which is the only factory mass-producing “true 2nm” chips today. Note that Samsung’s 2nm GAA node is functionally equivalent to TSMC’s 3nm node.
Therefore, analysts believe that manufacturers Samsung and Intel may gain additional traction, but mainly for geopolitical reasons, with that traction largely concentrated on more mature nodes.
We cited a Daishin Securities report last week stating that AMD appears to have given Samsung an order to produce 2nm-based Venice and Veranos CPUs.
Meanwhile, we reported earlier today that TSMC appears to be in no mood to give up capacity and technology leadership, with as many as 12 different factories currently in various stages of construction to solidify TSMC’s lead at the 2nm and A14 (1.4nm) nodes.
About the author: Writing is one of my undeniable passions. Over the past six years, he has written more than 2,200 different articles on finance and technology-related topics, spanning nearly 1 million words. And he has been a member of Wcctech’s mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, deep knowledge and a unique perspective to every topic I cover. When I’m not writing, I travel the world, exploring hidden gems and restaurants as an aspiring food connoisseur.
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