in my opinion, tsmc has all of the power. what about intel? long been able to maintain market position in the service-based, so what happens if we get the arrival of these macs? could this change the industry itself? or thefuture of intel u companies are no longer -- the future is about cloud infrastructure. if you look at intel, qualcomm, todia, they have pivoted offer their comprehensive portfolio of products for cloud infrastructure. related to intel specifically, perhaps they have fallen behind with silica and conductor and effexor impute -- silicon conductor manufacturing. in 2021 they will introduce their second generation of five nanometer and next year it will migrate to 10 nanometers. there is a wide gap between tsm and everybody else when it comes to manufacturing. this helps intel to focus and put more resources on allowed in the which will have higher growth than notebook and pc's together. haidi: obviously the first half of this year was unexpectedly strong for the chip industry given we sell pc application as well as data center

chips will work on the same technology that the iphone and ipad chips are based on so they used the tsmcmake the semiconductor. they will be building that factory in arizona. now, also, it will allow apple to have full control over the design of these macs in the future so they might be thinner, smaller and might even be faster. apple is pretty loyal to chip suppliers. for instance, the first ones used motorola in the 1980s and then we had power pc taking over in the 1990s and intel has been the go-to since 2005 but it will be a big direct hit to intel. we know apple only has around 10% of market share when it comes to pcs. as for macs, they make up less than 10% of apple sales. it's not really a big direct hit but analysts say it's a bigger picture for intel that is waning influence and lessening innovation but technology will take some time. chips aren't an easy thing that you implant. if you have software designers they need to adjust and optimize software to adjust for new components. it looks like apple continues to power higher. record highs. this is because analysts say app store

there's a technological revolution going on globally companies like samsung, tsmc intel continue to battle to drive that efficiency in their products and some of their end markets are certainly under pressure which is industrials, automotive, some of the medical. but other areas like infrastructure, data centers, moving around, supporting this whole stay-at-home economy that we've been adjusting to in the last few months, and probably will be adjusting to on a go forward basis, there's a lot of demand out there 5g is another big theme that's coming here, both from an infrastructure in a device selling that's going to start in the fall, so there's a lot of moving pieces but semis are the future and, you know, they have volatility and some up and down, but long term, we still feel very supportive of the area. >> steve, i look at the market, i look at tech, and i think boy, must be hard to find a deal right now. tech has continued to do pretty well despite the issues that we've had in the broader u.s. economy and global economy, but is this more about hey, where else are you going to put your