Benzinga | Sep 24, 2021 07:11AM EDT

Key Takeaways From White House Chip Crisis Meet

* The Biden government urged the semiconductor companies for "more transparency" about their supply chains at the White House meeting on the global chip crisis, Financial Times reports.

* Apple Inc (NASDAQ:AAPL), Intel Corp (NASDAQ:INTC), CEO, Microsoft Corp (NASDAQ:MSFT), Samsung Electronics Co Ltd (OTC:SSNLF), Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), General Motors Co (NYSE:GM), Ford Motor Co (NYSE: F), and Micron Technology Inc (NASDAQ:MU) participated in the online meeting.

* The government sought information on the chip supply and demand, inventory, and different customer segments, including using tools to compel companies on any non-cooperation.

* The government feared that the potential factory shutdowns in Vietnam and Malaysia could further affect chip supply chains due to the pandemic's resurgence.

* TSM acknowledged actively supporting and working with stakeholders to overcome a global semiconductor crisis at the meeting, Reuters reports.

* TSM expressed confidence in its capacity expansion plan, including the advanced 5nm semiconductor fab in Phoenix, Arizona, to support stability in semiconductor supplies.

* Price Action: TSM shares traded higher by 0.46% at $116.72 in the premarket session on the last check Friday.