"Company that solves hard problems in key industry gets high profit margins, news at 11." Well ... its' the company that develops power in the value chain, get

"Company that solves hard problems in key industry gets high profit margins, news at 11." Well ... its' the company that develops power in the value chain, gets the big profit margins! In this case, probably the 'hardest problems' are solved by ASML, in the Netherlands the sole provider of the key equipment TSMC uses to make their gear. TSMC is the operating entity that uses their various bits of operational advantage, know-how and positioning to great effect. It's almost like TSMC and ASML should be both talked about in every article, and that both Europe and US should be contemplating strategic initiatives in the operational part of leveraging the fact that their is a lot of money being left on the table in their home turf. Edit: one of the hard parts about saying 'let's make the chips here' ... is that the 'stuff' that uses the chips are often made in China and Taiwan! Not always, but often. You can see the effects of China 'creeping up the value chain' - it's hard to displace certain things if they control 'all the other moving parts, even the not very profitable one's' ...