iPhone 18 Could Come With 12GB of RAM

This is less about one handset spec and more about Apple telegraphing that local AI will become a baseline feature, not an upsell. If the entry model gets pro-level memory, it compresses the functional gap across the lineup and raises the floor for the entire installed base, which should improve adoption of on-device AI services but also modestly dilute the historical margin leverage of Pro-tier differentiation.

The bigger second-order implication is supply-chain mix: memory content per device rises while launch timing shifts later for the base model, which likely smooths near-term build risk for Apple but pulls demand into a tighter window for high-bandwidth memory and advanced packaging. That is structurally supportive for TSMC's leading-edge nodes, but the market may be underestimating how much of the AI benefit is being captured by Apple’s in-house silicon stack rather than by third-party AI accelerators. In other words, this is bullish for vertically integrated device makers and semi foundries, but negative for merchants selling “AI enablement” as a discrete software feature.

The main contrarian issue is that investors may be overpaying for a gradual feature upgrade masquerading as an AI catalyst. If iOS 27 features are compelling but not monetizable, Apple gets engagement and retention, not immediate ARPU expansion; in that case the earnings impact is delayed 2-4 quarters and the stock response should fade unless upgrade mix improves. For TSMC, the 2nm narrative matters more than the RAM rumor: if Apple secures early allocation, it reinforces customer concentration and pricing power, but any slip in yield would push revenue recognition rightward and create a temporary air pocket for the name.