Apple's long-standing partnership with Intel has shifted as the company now relies solely on TSMC for chip supply. However, recent supply chain disruptions have prompted Apple to reconsider this strategy.
Intel Corp. shares plunged about 17% after Chief Executive Officer Lip-Bu Tan gave a lackluster forecast and warned that the chipmaker was struggling with manufacturing problems. First-quarter projections for revenue and earnings both fell well short of Wall Street estimates. And a conference call with analysts, where Tan said it would take time and resolve to turn around the company, sent the shares down further.