Piper Jaffray Sees Taiwan Semi as 'Major Supplier' in Wafer Fab Market with NY Plant Possibly Online in Two Years

Shares of Taiwan Semi

could be trading higher Tuesday afternoon following an earlier note from Piper Jaffray's Jagadish Iyer. The stock is up more than 1.3 percent. Iyer believes the company could be planning a wafer fabrication facility in upstate New York, creating an environment where Apple

could want to take a portion of risk out of its supply chain given the production possibilities within the US. The Piper analyst suggested Taiwan Semi could eventually become a major supplier in this market. Iyer set a timeframe for the facility groundbreaking as 12-18 months, with a plant possibly online within two years. Taiwan Semi shares last traded at $16.95.