The World Relies on One Chip Maker in Taiwan, Leaving Everyone Vulnerable

Taiwan Semiconductor Manufacturing Co. TSM -2.80% ’s chips are everywhere, though most consumers don’t know it.

The company makes almost all of the world’s most sophisticated chips, and many of the simpler ones, too. They’re in billions of products with built-in electronics, including iPhones, personal computers and cars—all without any obvious sign they came from TSMC, which does the manufacturing for better-known companies that design them, like Apple Inc. and Qualcomm Inc. QCOM -1.74%

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