Steven Philips on This week's Apple trading strategies (8/17-8/21/26) - 'It may go beyond being a hyperscaler to Google’s seeming plans for a hardware platform mimicking Apple.'
on This week's Apple trading strategies (8/17-8/21/26) - 'I’m intrigued by Berkshire’s big increase in its investment in Alphabet. BRK’s position in Alphabet is now reported to be worth about $36.6 billion. That’s below the enterprise’s stakes in Apple ($69.7 billion), and American Express ($51.9 billion) and above the $35.1 billion position in Coca-Cola. I find it noteworthy both Warren Buffett and Greg Abel consider a hyperscaler a sound investment for such a large position.'
on CBS visits Apple's Houston plant, interviews Tim Cook - 'Where is the Apple Houston plant? (Wife’s mother lived in Cy-Fair on the northwest corner.)'
on CBS visits Apple's Houston plant, interviews Tim Cook - 'Having grown up in Houston, I can say that generally it is a pretty egalitarian city — they mostly don’t much care who you are or where you come from as long as you have money ;-0 I expect the people working at the facility will have some. (It does have problems like any large city in Texas or elsewhere, but the people elected a gay woman for mayor. Three times!) I think one big deal for companies in Houston (maybe even bigger than low taxes) is that without zoning restrictions, they can build just about anywhere, deed restrictions notwithstanding. Nvidia is building a plant right next to Apple’s. I would not be surprised if the area around the Apple facility acts as a nucleus for a technology corridor, similar to the Energy Corridor along I-10, about 10 miles southwest. (The combination of IT and Energy industries so close together could well engender some amazing collaborations) I too am also glad to see all the new developments around Dallas/Fort Worth. Dallas has always been the financial center of the state, and Fort Worth, well, the prototypical cattle town. Diversifying the economies of both has been a great thing. I fully expect that these industries will continue to have huge impacts on two of the largest metro areas in the country.'
on Apple offers Epic 5% to 15% - 'If Epic can replicate the value of the App Store on its own, why don’t they just do so? Who willingly stays somewhere and argues that the place holds no value and is entitled to no compensation because of this lack of value? Pay or leave. Those are the two options.'
on Omdia: The wearables market is splitting in two - 'Can a Garmin do Contactless payments? If not it isn’t likely to continue its current little gains. Contactless on the wrist invaluable. And more so if you read about 83,000 phone thefts in London last year, mostly ‘grab ‘n runs’.'
on Apple and Trump guys butt heads over Chinese chips - 'Not sure of the answer to that Gary, but the way I read it, apple would be only using this memory in the China market anyhow… “Apple has been testing memory chips made by Chinese companies CXMT and Yangtze Memory Technologies, a prelude to potentially including them in Apple devices sold in China, according to people familiar with its efforts.”'
on Apple offers Epic 5% to 15% - 'Epic’s calculus is so flawed as to cause one to question Sweeney’s competence as CEO. Assuming Epic ultimately won and Apple got nothing, and Epic shared the savings with consumers 50/50, are those consumers going to change their buying habits, and give up privacy, in exchange for a mere 13 cents per purchase, assuming the app they want is on Epic’s site? This is Android logic, and clearly there is no evidence it is working. Will the purchase volume through an Epic Store (that increases Epic’s profits by 13 cents per purchase) be such that Epic recoups all of its legal expenditures? As of February 2026 Epic has spent >$1 Billion in legal fees attacking Apple’s Store fee structure. That equates to >7.6 Billion transactions. The calculus doesn’t justify tilting at windmills.'
on Apple offers Epic 5% to 15% - 'Apple won. Do the math. Even if Apple only gets 5%, the savings to consumers is then only 13%. This may work for Epic selling in-App purchases for their games. 3rd parties would have to split that 13% savings with their customers, which is not compelling. If Epic ever decides to increase their fee, the risk is on 3rd parties. Only a fraction of the Epic customers will chose Epic’s store (if Epic ever returns), which was a fraction of the game segment of all App Store, which is a fraction of Services. Even if Epic does return, the measly 5% fee is upside to Apple. It’s all peanuts.'
on Apple offers Epic 5% to 15% - '“Maybe Apple can keep litigating longer than Epic can stay solvent.” Let’s hope!'
on CBS visits Apple's Houston plant, interviews Tim Cook - 'OK. It was an interview. Most of the content was superficial, as it must be. I do think it’s cool that the new facility is being built not so far away (Houston). Seeing the people milling around, the facility is clearly not “live” yet (no bunny suits). Texas is very business friendly and is developing a pretty strong semiconductor presence between DFW (TI, et al) and Austin (was Motorola, has morphed to many others) and perhaps now Houston. I’m not so sure how “employee-friendly” Texas is (“right to work state”) or how friendly main street Texans are to all the workers who come here seeking these jobs (“don’t California my Texas”), but jobs are jobs, and they do help to support the local economy. I live here in Dallas. It’s nice to see McKinney, Sherman, and even Houston grow good semiconductor jobs. re: GlobalWafer in Sherman: we are too small a volume operation in my business for them to be interested in us, especially at our current 6″ node. Perhaps, with an 8″ node conversion, they might get interested, but we would still be very boutique for them. TI, on the other hand, is building a huge facility in Sherman, which is less than a mile away from the Global Wafer factory. TI are very busy building facilities in North Texas (AKA DFW).'
on Apple and Trump guys butt heads over Chinese chips - 'Seems simple but no, it isn’t because of the different types of wafers and their already intended uses and target markets. From Gemini: GlobalWafers manufactures high-purity silicon wafers, Silicon-on-Insulator (SOI) wafers, and silicon carbide (SiC) epitaxial wafers ranging from 3 inches to 12 inches (300mm) in diameter to support logic, memory, and power semiconductor chips. Core Wafer Types * Prime Polished Wafers: Mirror-finished substrates used as the base for standard integrated circuits. * Epitaxial (Epi) Wafers: Wafers with an extra, highly pure single-crystal silicon layer grown on top for superior electrical performance. * Silicon-on-Insulator (SOI) Wafers: Specialized substrates featuring an insulating layer trapped inside, built for high-performance computing, radio frequency (RF) communication, and radiation-hardened aerospace/defense applications. * Silicon Carbide (SiC) Wafers: Wide-bandgap compound semiconductor substrates engineered for high-voltage power electronics and electric vehicles. * Specialty/Annealed Wafers: Hydrogen-treated (Hi-WAFER) and argon-annealed (AT-Wafer) substrates designed to minimize microscopic surface and internal defects. Primary Diameters & Sizes * 300mm (12-inch): Large substrates used for high-volume, advanced logic and memory chips. * 200mm (8-inch) & 150mm (6-inch): Smaller mature nodes heavily used for power management, automotive ICs, sensors, and SiC power devices. * Small Diameters (3-inch to 5-inch): Legacy or niche research applications. If you’re interested, I can also explain how these raw ingots are sliced and polished into finished chips or detail which major foundries buy from GlobalWafers. “who are global wafers specific clients and markets?” GlobalWafers is the world’s third-largest silicon wafer supplier and acts as a primary material foundation for the tech supply chain, directly serving 100% of the top 25 semiconductor companies globally. Because raw wafers must be physically fabricated into chips, GlobalWafers’ client base is split between Pure-Play Foundries (contract manufacturers) and Integrated Device Manufacturers (IDMs) who design and manufacture their own chips. Specific Clients & Strategic Partners GlobalWafers’ highest-profile, publicly disclosed clients and strategic investors include: * TSMC: As GlobalWafers’ most prominent downstream customer, the Taiwanese foundry giant relies heavily on their 300mm advanced prime and epi wafers to fabricate cutting-edge processors. * Micron Technology: In mid-2026, Micron announced a massive $3 billion investment into GlobalWafers to structurally guarantee a steady domestic supply of silicon wafers for its rapid AI memory chip expansions. * Intel: Uses GlobalWafers’ high-volume substrates to fuel both its proprietary microprocessors and its expanding Intel Foundry services. * Samsung Electronics: One of the company’s major recurring global buyers for both logic chip fabrication and high-density memory nodes. * Texas Instruments (TI): A massive consumer of GlobalWafers’ analog and power management substrates, heavily aligning with GlobalWafers’ multi-billion dollar manufacturing footprint expansions in Sherman, Texas. ((So there is already massive high demand for every production wager GW can make for the specific markets and makers they serve. Having Apple buy production and then shove it towards Micron when Micron is moving more production to HBM memory isn’t likely to happen.)) Primary Target Markets & Sectors GlobalWafers operates across five cornerstone end-markets, distributing its manufacturing footprint across 18 production sites globally to localized hubs in Asia, Europe, and North America: [1, 2, 3] * High-Performance Computing (HPC) & AI: Primarily consumes advanced 300mm (12-inch) polished wafers. This sector drives their highest margin growth due to the demand for generative AI accelerators, enterprise data centers, and advanced cloud infrastructure. * Automotive & Electric Vehicles (EVs): A rapidly expanding market relying heavily on specialized Silicon Carbide (SiC) and mature 200mm wafers. These are critical for onboard EV power inverters, high-voltage battery management systems, and advanced driver-assistance systems (ADAS). * Consumer Electronics: The baseline volume driver for the company, providing substrates for smartphones, laptops, gaming consoles, and smart home appliances. * Telecommunications & 5G/6G: Fueled by Silicon-on-Insulator (SOI) wafers, which are strictly required for high-frequency radio frequency (RF) front-end modules, power amplifiers, and optical communication infrastructure. * Industrial, Aerospace & Defense: Utilizes specialized radiation-hardened and high-resistivity specialty wafers for industrial automation, smart grids, and aerospace sensing equipment.'
on Apple and Trump guys butt heads over Chinese chips - 'Is there anything keeping Apple from using China made memory in products destined for sales in China? Right now these products require different AI models, different servers for iCloud, different app integrations, different default search engines, etc. Maybe this is already the case and Apple is trying to expand use outside of China? Any supply chain experts know the facts?'
on Saturday Apple video: Reed Jobs wants to make cancer nonlethal - 'I came to know Reed’s dad in some depth when he was 26 and I was 18, and I got to know him better throughout his mid 30s. (Steve was a special mentor & friend who introduced me to meditation and the spiritual path.) Reed today is 34. I see in Reed his dad’s intense curiosity, excitement, and fascination with understanding how complex things work. Cancer treatment involves some of the most complex science there is. Cancer is more than 400 diseases and there are thousands of ways of approaching the treatment of individual cancers (called Mechanisms of Action). The complexities and difficulties are mind boggling. Reed has done a remarkable job of teaching himself the science, and then being able to think through it strategically and rigorously. The depth and breadth of his understanding is impressive—especially for someone without advanced education in biology or pathology. His ability to make sense of the science, demystify it, and make it understandable to others is awesome. The key difference I see between Steve and Reed is that Steve was deeply spiritual in his work. Steve felt he existed to be of service to the world. Reed talks about his investing in oncology as “my thing, the thing I want to do.” It is laudable work but it is more ego driven. When Steve was in his groove, there was almost no ego. It was more a feeling of his soul expressing itself, serving others. Reed doesn’t yet seem to have the self-awareness to understand that he is not building a new entrepreneurial “mousetrap” for the world. He is investing his family office’s resources in other peoples’ businesses and research. He talks about how Yosemite will capitalize on its philanthropy/VC pipeline, rather than how he will add value as an investor/partner. He way overstates his role in the field of cancer research. Reed is NOT the person who is “making cancer less lethal.” That has been the research focus and hard work of thousands of scientists over the decades before him. As an investor, he is picking his spots inside of a vast therapeutic research ecosystem. Reed’s work is deeply needed and is laudable. It would be a great thing if he were also inspired by his dad’s deep humility and his dad’s focus on making *others* successful. At some level, I think Reed may feel trapped that he has to prove himself to be a credible Silicon Valley entrepreneur. That’s a terrible burden to carry. It means getting held hostage by other peoples’ stories. Reed would do well to give up the tone (and belief) of being entitled or needing to prove anything. Rather, he could feel a sense of awe and gratitude that he’s been given the miraculous opportunity he’s been given because of the funds he has access to. His personal mission could be more along the lines of: “Given the $X I have to invest, how do I make the greatest impact on reducing the suffering of people living with cancer?” Or “how do I prevent the most deaths or extend the most lives” (or whatever end goal resonates most with him). Then be humble. Feel compassion deeply into the suffering of others. Don’t assume he is entitled to anything. Be a servant leader. Be everything that uniquely makes Reed who he is.'
on Apple and Trump guys butt heads over Chinese chips - 'Exactly! Lutnick should be pounding on Micron and Samsung to expand memory manufacturing in the USA.'
on Apple and Trump guys butt heads over Chinese chips - 'Tim Cook has a good working relationship with the Trump administration. Here’s hoping that reporters don’t get in the way.'
on Apple and Trump guys butt heads over Chinese chips - 'The optics, nevermind geopolitics, for Apple on using Chinese memory chips are pretty bad. Apple has been promising since Trump 1 to build-up its US supply chain. It’s made pitiful progress in the last 9 years in keeping that commitment. Deepening its Chinese supply chain dependence now goes against those past, unfulfilled commitments. Apple could invest to expand production of a US or South Korean memory company, so why pick a Chinese company? Loss of US gov’t sales and high import tariffs would be bad for business.'
