they made a bet on EUV on better commercial terms than samsung and intel could do for themselves. another point of view is that TSMC's cost structure, of having highly educated, overworked, and wildly underpaid Taiwanese employees, is the real unmitigated success.

you could say apple silicon was almost 2 years ahead of its time, or you could say that intel lost years on bad bets. there are only 3 consumer-scale, leading node foundries in the world!

is apple a, "making good commercial terms with poor counterparties" company? yes, to their core. whether it is their employees whom they worked to the bone, their suppliers in the ASEAN trade network, or the US politicians who starkly are too broke to regulate giant US corporations, for whom too little money goes too long of a way.

my point is, who the hell knows! there are many, many points of view. it's not any one thing. but one thing's for sure, i don't think i'm upgrading my phone until it blows up anymore, and this is the simple, greatest risk to their business.

so they're going to become a company that breaks phones to get people to replace them, regardless of what they are today :)