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How To Become A Billionaire In One Step: Sell Components To Apple

How To Become A Billionaire In One Step: Sell Components To Apple
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Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE: TSM) has seen its stock surge nearly 25 percent since the start of 2017 as the company is expectations are high for component supplier to Apple Inc. (NASDAQ: AAPL)'s iPhone.

The stock's strong performance has now the company's 86-year old founder and chairman Morris Chang a billionaire, according to Bloomberg. Even though the executive owns just 0.5 percent of the business directly and through his family, he is nevertheless a billionaire and oversees the most valuable company on Taiwan's stock exchange.

The American-educated executive founded Taiwan Semiconductor in his mid-50s. He also happens to be the first person to build a semiconductor factory that manufactures chips that are based on the specific designs of its customers.

Meanwhile, Chang remains a driving force for the company that will likely play a key role not only in the upcoming iPhone but over a longer term by supplying components needed in cars, high-performance computing products and the Internet of Things, Bloomberg added.

Taiwan's second largest company based on market cap is also a key member of Apple's supply chain. Hon Hai Precision Industry Co., also known as Foxconn Technology Group, assembles iPhone devices for Apple and gained more than 50 percent in value over the past year to be worth $66 billion.

Taiwan Semiconductor also reported its second quarter reports after Wednesday's market close. The company reported a net income of $2.19 billion on revenue of $7.06 billion.

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Image Credit: By DEA Emploee (DEA employee) [Public domain], via Wikimedia Commons

Posted-In: Apple Supply Chain iPhone iPhone 8 Morris ChangEarnings News Tech Media Best of Benzinga


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