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Fed by iPhone 12 cash, TSMC pouring $28B into tech & Arizona plant in 2021

After a blockbuster quarter driven by the iPhone 12, Apple supplier TSMC says it will spend as much as $28 billion in capital spending in 2021, with much of that amount allocated to expanding its technological lead.

Credit: TSMCCredit: TSMC

The company’s capital spending target is a massive increase from the previous year’s $17.2 billion target. About 80% of the spending in 2021 will be devoted toward advanced chip technologies such as 3nm manufacturing processes. Some of its capital spending will also be allocated toward building a plant in Arizona to help supply its U.S. clients.

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