Apple Inc. (AAPL) vs Taiwan Semiconductor Manufacturing Company Limited (TSM)

Apple Inc. is one of the world’s largest companies, offering a broad portfolio of hardware and software products for both consumers and businesses. The iPhone accounts for the majority of Apple’s revenue, while products such as the Mac, iPad, and Apple Watch are built around the iPhone as the centerpiece of a wide-reaching software ecosystem. Over time, Apple has expanded its offerings with new services and applications, including streaming video, subscription bundles, and augmented reality. The company designs its own software and semiconductors, while relying on manufacturing partners such as Foxconn and TSMC to produce its devices and chips. Slightly less than half of Apple’s sales are generated through its flagship retail stores, with most revenue coming indirectly through partnerships and distribution channels.

Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest pure-play semiconductor foundry, holding roughly 70% market share in 2025. Founded in 1987 as a joint venture between Philips, the Taiwan government, and private investors, the company listed in Taiwan in 1994 and later launched its US ADR in 1997. TSMC’s vast scale and advanced manufacturing capabilities support strong operating margins, even within the highly competitive foundry industry. The ongoing shift toward the fabless semiconductor model has also provided meaningful growth tailwinds. Its distinguished customer base includes Apple, AMD, and Nvidia, which rely on TSMC’s leading-edge process technologies for their chip designs. The company employs more than 83,000 people.