Ming-Chi Kuo: Apple is cultivating Intel as a key supplier during its growth phase

Tianfeng International Securities analyst Guo Mingchi said on the social platform X that Apple is systematically cultivating Intel, enabling it to have the long-term capability to become a key supplier.

Guo Mingchi said that Apple is building three major product lines alongside Intel (iPhone, iPad, Mac), and the investment-to-screening ratio and sales volumes are similar, indicating that it has already been simulating and validating the possibility of Intel becoming a supplier for the entire product line in the future.

He noted that although Intel has come across an unprecedented critical opportunity, Apple’s high standards—combined with its strategy of simultaneously taking orders from other customers—will magnify the difficulty of executing Intel’s re-creation of the advanced process wafer foundry business.

Guo Mingchi also pointed out that, because in the coming years the vast majority of advanced process orders will still be concentrated with TSMC, Apple is almost Intel’s only— and most complete—opportunity to train for wafer foundry operations. When TSMC’s advanced processes become scarce resources and resources continue to tilt toward AI, Apple will naturally seek cooperation with Intel to enhance its bargaining power. He also said he believes Apple is not a one-off case; all key players in advanced processes are hedging risks against TSMC.