Apple (NASDAQ: AAPL) is the world's largest company, Warren Buffett's largest holding, and one of the most successful stocks of this millennium.

However, even with a record that impressive, its management team is not resting on its laurels. In order to improve its products and maintain or expand its already-high margins, Apple has embarked on a new strategy: to design more and more of the semiconductors that will go into its smartphones, computers, and other electronic devices.

This plan entails some risk, but also could deliver a lot of advantages for Apple if it's successful. On the other hand, its strategy should continue to be an overhang for major component suppliers Qualcomm (NASDAQ: QCOM), Broadcom (NASDAQ: AVGO), and Skyworks Solutions (NASDAQ: SWKS).

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Source Fool.com