“Consider: Apple is a $1 trillion company, and its hardware supply chain amounts to another trillion or so in market cap. Those companies have about $1 trillion in assets listed on the books,” Root reports. “Though it’s difficult to get precise numbers, Apple’s suppliers domiciled outside Southeast Asia probably own about $300 billion in assets there.”
“If the security zeitgeist begins to require more technology production to be done in the U.S., the implied shift in capital spending by the region could be material,” Root reports. “The market, however, has taken just $18 billion or so in value from the hardware suppliers since the story broke… with Taiwan Semiconductor Manufacturing, down 3.5% to $42.43, among the hardest hit.”
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