Core Viewpoint - TSMC's expansion in the U.S. is driven by increasing demand from major clients like Apple, NVIDIA, AMD, Qualcomm, and Broadcom, influenced by geopolitical factors and the need for alternative production sites [1][2]. Group 1: TSMC's U.S. Expansion - TSMC's new U.S. factories are seeing strong demand, with reports indicating that the capacity of the upcoming third factory has already been booked by clients [1]. - The company plans to invest a total of $165 billion in its U.S. operations, which will include six new wafer fabs and two advanced packaging facilities [1]. - By 2028, TSMC's overseas capacity is expected to reach about 20% of its total capacity, with a significant portion coming from its U.S. and Japanese facilities [1]. Group 2: Client Demand and Revenue Projections - TSMC's revenue from Apple is projected to reach between NT$800 billion and NT$1 trillion this year, with a year-on-year growth rate of up to 60% [4]. - Apple is TSMC's largest client in the U.S., with plans to procure over 19 billion chips across multiple states by fiscal year 2025 [4]. - TSMC's advanced process technology is crucial for Apple's innovation, as the company transitions from Intel processors to its own M-series chips, with expectations for the new M5 chip to utilize TSMC's N3P process [5]. Group 3: Advanced Process Technology - TSMC's advanced process technology now accounts for over 73% of its revenue, with significant contributions from 7nm, 5nm, and 3nm processes [5]. - The company is helping clients like Apple reduce costs through innovative semiconductor solutions, enhancing competitiveness in the market [6].

Group 1 - TSMC's revenue from Apple orders is expected to reach a record high this year, potentially surpassing NT$1 trillion, with a year-on-year growth rate of 60% [1] - TSMC's advanced process technology is increasingly penetrating Apple's entire product line, with significant contributions from both Taiwan's 2nm production and the new factories in the U.S. [1][2] - Apple is projected to contribute approximately NT$6,243 billion to TSMC's revenue in 2024, with expectations of this figure rising to between NT$800 billion and NT$1 trillion due to the new production capacities [2] Group 2 - TSMC's revenue from advanced processes (7nm and below) has surpassed 70%, reaching 73%, with significant contributions from 5nm and 3nm technologies [3] - The introduction of Apple's self-developed 5G modem chip in the iPhone 16e, utilizing TSMC's 5nm N4P process, demonstrates TSMC's ability to create value for its clients [3] - The collaboration between TSMC and Apple enhances both companies' competitiveness in the market, leading to a mutually beneficial relationship [3]