I probably use the term “fascinating” too much, especially in my podcast.

But this situation truly is fascinating. TSMC holds $1 billion+ of excess inventory because someone else in the supply chain can’t deliver a crucial part.

In short, they’re sitting around twidling their thumbs waiting for DRAM while Apple processor wafers pile up.

The ripple effects are important and wide-reaching.

Here’s details, including the inside scoop on Apple’s plans for iPhone Ultra (fold), iPhone 18, and iPhone 19 Pro.

Exclusive to Culpium here on Substack.