TSMC as a manufacturer and Apple/Qualcomm/Nvidia as designers make an enormous amount of money. Everyone else, like AMD/Global Foundries/Samsung/Intel don’t se

TSMC as a manufacturer and Apple/Qualcomm/Nvidia as designers make an enormous amount of money. Everyone else, like AMD/Global Foundries/Samsung/Intel don’t seem to be making an enormous amount of money. The margins are all in the best chips. Less than best is commoditized.