This Chip Stock Just Hit a Major Setback. Steve Jobs Predicted It.

The United States has for years lost out in the tech manufacturing race, and a surprising change is now afoot.

Semiconductor manufacturers, including Taiwan Semiconductor (NYSE: TSM), Intel (NASDAQ: INTC), Samsung, Texas Instruments, and others have announced plans to open massive factories in the United States. Those moves represent a major victory for both the U.S. economy and the federal government, with the CHIPS Act helping to encourage domestic chip manufacturing.

However, those plans hit a significant speed bump last week, when Taiwan Semiconductor, which had pledged to invest around $40 billion in two plants in Arizona, said it would delay the opening of its first new factory, which was expected to open in late 2024.

Source Fool.com