Afternoon Coffee: Apple Diversifies Supply Chain, Seimens Selects Molycorp as Rare Earth Magnet Supplier

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Apple has reportedly selected Taiwan Semiconductor Mfg. Co. Ltd. to supply 30% of processors for the upcoming new iPhone, expected later this year. Samsung Elect Ltd was previously the sole supplier of the A9 chip for the next iPhone.

Rare earth and metal product manufacturer Molycorp secured a 10-year deal to supply Siemens with rare earth magnets. Siemens will use the magnets in its high-efficiency, direct-drive wind turbines.

The US consumer price index increased slightly 0.2% in March, thanks to rising gas prices. Between February and March, gas prices jumped 3.9%.

China, the world’s largest car market, has not been as profitable as some automakers had hoped. Both BMW and Volkswagen have reported a drop in car sales in China.

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