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郭明錤｜Ming-Chi Kuo (@mingchikuo) on X
Recent media reports have suggested that TSMC holds around $1 billion worth of Apple's 2nm processors in work-in-process inventory due to DRAM supply constraints. However, industry analyst Ming-Chi Kuo argues that this scenario highlights a scheduling approach rather than a significant supply chain disruption. Apple coordinates its production with TSMC based on expected memory availability, and while TSMC does have work-in-process inventory, the scale attributed does not signify a dire situation. Several factors, including the increase in inventory days and the presence of additional customers, like AMD and MediaTek using TSMC's 2nm technology, support Kuo's perspective.
MonitorConfidence: MediumShort term horizon
Published 10 Aug 2026, 18:45 UTC2 min read
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Summary
TL;DR
- TSMC reportedly holds $1 billion in Apple 2nm work-in-process inventory.
- Ming-Chi Kuo emphasizes that this does not indicate a significant supply shortage.
- TSMC's inventory increase is linked to typical production ramp-up processes.
- Apple’s processor production is strategically planned based on memory availability.
- Other clients, such as AMD and MediaTek, are also involved in TSMC's 2nm production.
Interesting facts
- TSMC defines inventory to include finished goods and raw materials, not just work-in-process.
- The presence of multiple customers for 2nm chips highlights a diversified client base.