tech
Apple expands U.S. manufacturing pledge, putting a third portfolio name under its umbrella
Qnity Electronics joins Broadcom and Corning.
TL;DR
- Apple is expanding its U.S. manufacturing by adding new partners like Qnity Electronics, Cirrus Logic, and Bosch.
- The company plans to invest $400 million in these new programs through 2030.
- Qnity Electronics joins Broadcom and Corning as portfolio companies involved in Apple's U.S. manufacturing efforts.
- Apple's investment in Corning helped expand manufacturing capacity for glass used in iPhones and Apple Watches.
- Broadcom provides radio frequency components for 5G on Apple devices.
- Qnity's specialized chemicals and materials are crucial for semiconductor manufacturing, supplying companies like TSMC, a key customer of Apple's Arizona chip factories.
- The partnership increases confidence in Qnity's earnings growth, with its stock trading at a lower valuation than rival Entegris.