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There are reports that TSMC (TSM.N) is unable to complete the final packaging of the A20 Pro (2nm/N2) processors worth approximately $1 billion produced for Apple, resulting in them being stored at the factory while waiting for the arrival of memory chips. Analyst Ming-Chi Kuo pointed out that Apple (AAPL.O) has indeed reduced its hardware shipping plans this year due to memory shortages. However, Apple typically plans TSMCs processor production at least three months in advance based on the expected available memory, rather than allowing TSMC to produce large quantities of work-in-progress units ahead of time. To my understanding, there has not been a dramatic situation where TSMC accumulates $1 billion worth of work-in-progress and then has to wait for memory to arrive for packaging. Both TSMC and Apple are known for their top-notch execution, and given the close coordination of the supply chains between the two companies, such dramatic developments would be unusual.