# If Apple moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/apple · Facet: ripple · Updated: 2026-09-24T04:08:54.277362+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Apple is directly linked to 38 companies (36 supply, 3 revenue, 1 investment relationships) and reaches 128 companies within two hops; the links are backed by 64 dated sources, 23 of them primary filings (as of 2026-09-24).

Apple operates across Consumer devices, In-house silicon, Services. It stayed steadily positive in recent years and is +18% in 2026. The supply side (avg +123.7%) leads the stock (+18%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Murata Manufacturing (+131.5%) and the furthest behind is STMicroelectronics (+102.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. TSMC's second-largest customer (17% of revenue).

## Demand chain (leading)
- T1 T-Mobile US, Inc. (https://valuechain.wiki/t-mobile-us.md)
- T2 EchoStar Corporation (https://valuechain.wiki/echostar.md)
- T3 AT&T Inc. (https://valuechain.wiki/at-t.md)
- T3 SpaceX (https://valuechain.wiki/spacex.md)
- T1 Target Corporation (https://valuechain.wiki/target.md)
- T2 CVS Health (https://valuechain.wiki/cvs-health.md)
- T3 Elevance Health, Inc. (https://valuechain.wiki/elevance-health.md)
- T1 Take-Two Interactive Software, Inc. (https://valuechain.wiki/take-two-interactive.md)
- T2 Microsoft (https://valuechain.wiki/microsoft.md)
- T3 OpenAI (https://valuechain.wiki/openai.md)
- T3 Snowflake (https://valuechain.wiki/snowflake.md)
- T3 ServiceNow (https://valuechain.wiki/servicenow.md)
- T3 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 Starbucks Corp (https://valuechain.wiki/starbucks.md)
- T3 Costco Wholesale (https://valuechain.wiki/costco.md)
- T3 Johnson Controls (https://valuechain.wiki/johnson-controls.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 Accenture plc (https://valuechain.wiki/accenture.md)
- T3 Stryker Corporation (https://valuechain.wiki/stryker.md)
- T3 Adobe Inc. (https://valuechain.wiki/adobe.md)
- T3 3M Company (https://valuechain.wiki/3m.md)
- T3 Illinois Tool Works Inc. (https://valuechain.wiki/illinois-tool-works.md)
- T3 Boston Scientific Corporation (https://valuechain.wiki/boston-scientific.md)
- T3 Autodesk, Inc. (https://valuechain.wiki/autodesk.md)
- T3 Rockwell Automation, Inc. (https://valuechain.wiki/rockwell-automation.md)
- T3 Roper Technologies (https://valuechain.wiki/roper-technologies.md)
- T3 Kenvue Inc. (https://valuechain.wiki/kenvue.md)
- T3 Axon Enterprise, Inc. (https://valuechain.wiki/axon-enterprise.md)
- T3 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Fiserv (https://valuechain.wiki/fiserv.md)
- T3 Otis Worldwide Corporation (https://valuechain.wiki/otis-worldwide.md)
- T3 Cognizant Technology Solutions Corporation (https://valuechain.wiki/cognizant.md)
- T3 Dover Corporation (https://valuechain.wiki/dover.md)
- T3 Veralto Corporation (https://valuechain.wiki/veralto.md)
- T3 Ralph Lauren Corporation (https://valuechain.wiki/ralph-lauren.md)

## Supply chain (benefiting)
- T1 TSMC (https://valuechain.wiki/tsmc.md)
- T2 Applied Materials (https://valuechain.wiki/applied-materials.md)
- T3 MKS Instruments (https://valuechain.wiki/mks-instruments.md)
- T3 TCK (Tokai Carbon Korea) (https://valuechain.wiki/tck.md)
- T3 Advanced Energy Industries (https://valuechain.wiki/advanced-energy.md)
- T3 Ichor Holdings (https://valuechain.wiki/ichor-holdings.md)
- T3 SMC Corporation (https://valuechain.wiki/smc.md)
- T2 Lam Research (https://valuechain.wiki/lam-research.md)
- T3 Wonik QnC (https://valuechain.wiki/wonik-qnc.md)
- T2 Siemens EDA (https://valuechain.wiki/siemens-eda.md)
- T3 Siemens AG (https://valuechain.wiki/siemens-ag.md)
- T2 SCREEN Holdings (https://valuechain.wiki/screen-holdings.md)
- T2 JSR Corporation (https://valuechain.wiki/jsr.md)
- T3 Yokogawa Electric (https://valuechain.wiki/yokogawa-electric.md)
- T2 Lasertec (https://valuechain.wiki/lasertec.md)
- T2 Tokyo Ohka Kogyo (TOK) (https://valuechain.wiki/tokyo-ohka.md)
- T2 Disco Corporation (https://valuechain.wiki/disco.md)
- T2 Entegris (https://valuechain.wiki/entegris.md)
- T2 KLA (https://valuechain.wiki/kla.md)
- T2 Onto Innovation (https://valuechain.wiki/onto-innovation.md)
- T2 ASM International (https://valuechain.wiki/asm-international.md)
- T2 Resonac (https://valuechain.wiki/resonac.md)
- T2 Hitachi High-Tech (https://valuechain.wiki/hitachi-hightech.md)
- T3 Hitachi (https://valuechain.wiki/hitachi.md)
- T2 BESI (https://valuechain.wiki/besi.md)
- T2 HPSP (https://valuechain.wiki/hpsp.md)
- T2 Tokyo Electron (TEL) (https://valuechain.wiki/tokyo-electron.md)
- T3 Hana Materials (https://valuechain.wiki/hana-materials.md)
- T2 Shin-Etsu Chemical (https://valuechain.wiki/shin-etsu.md)
- T2 SUMCO Corporation (https://valuechain.wiki/sumco.md)
- T2 Synopsys (https://valuechain.wiki/synopsys.md)
- T2 Cadence Design Systems (https://valuechain.wiki/cadence.md)
- T2 GlobalWafers (https://valuechain.wiki/globalwafers.md)
- T2 Teradyne (https://valuechain.wiki/teradyne.md)
- T2 Advantest (https://valuechain.wiki/advantest.md)
- T2 Global Unichip (https://valuechain.wiki/global-unichip.md)
- T2 Ebara (https://valuechain.wiki/ebara.md)
- T2 Linde (https://valuechain.wiki/linde.md)
- T3 ExxonMobil (https://valuechain.wiki/exxonmobil.md)
- T2 Air Liquide (https://valuechain.wiki/air-liquide.md)
- T2 Fujimi Incorporated (https://valuechain.wiki/fujimi.md)
- T2 Leeno Industrial (https://valuechain.wiki/leeno.md)
- T2 Photronics (https://valuechain.wiki/photronics.md)
- T3 Hoya Corporation (https://valuechain.wiki/hoya.md)
- T2 ASML (https://valuechain.wiki/asml.md)
- T3 Carl Zeiss SMT (https://valuechain.wiki/carl-zeiss-smt.md)
- T3 TRUMPF (https://valuechain.wiki/trumpf.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T2 Qnity Electronics (https://valuechain.wiki/qnity-electronics.md)
- T3 DuPont (https://valuechain.wiki/dupont.md)
- T2 EO Technics (https://valuechain.wiki/eo-technics.md)
- T1 Samsung Electronics (https://valuechain.wiki/samsung-electronics.md)
- T2 ASMPT (https://valuechain.wiki/asmpt.md)
- T3 Kulicke & Soffa (https://valuechain.wiki/kulicke-soffa.md)
- T2 Hanmi Semiconductor (https://valuechain.wiki/hanmi-semiconductor.md)
- T2 SFA Semicon (https://valuechain.wiki/sfa-semicon.md)
- T3 SFA Engineering (https://valuechain.wiki/sfa-engineering.md)
- T2 Daeduck Electronics (https://valuechain.wiki/daeduck.md)
- T2 Uni Test (https://valuechain.wiki/unitest.md)
- T2 MediaTek (https://valuechain.wiki/mediatek.md)
- T3 King Yuan Electronics (KYEC) (https://valuechain.wiki/kyec.md)
- T3 Arm Holdings (https://valuechain.wiki/arm.md)
- T3 Nan Ya PCB (https://valuechain.wiki/nanya-pcb.md)
- T3 United Microelectronics (UMC) (https://valuechain.wiki/umc.md)
- T3 JCET (Jiangsu Changjiang Electronics) (https://valuechain.wiki/jcet.md)
- T2 Wonik IPS (https://valuechain.wiki/wonik-ips.md)
- T2 Foosung (https://valuechain.wiki/foosung.md)
- T2 Merck KGaA (EMD) (https://valuechain.wiki/merck-kgaa.md)
- T3 Veeva Systems (https://valuechain.wiki/veeva-systems.md)
- T2 Nepes (https://valuechain.wiki/nepes.md)
- T2 Montage Technology (https://valuechain.wiki/montage.md)
- T2 KC Tech (https://valuechain.wiki/kc-tech.md)
- T2 SK Siltron (https://valuechain.wiki/sk-siltron.md)
- T2 S&S Tech (https://valuechain.wiki/sns-tech.md)
- T2 Camtek (https://valuechain.wiki/camtek.md)
- T2 Samsung Electro-Mechanics (https://valuechain.wiki/samsung-electro-mechanics.md)
- T3 Ajinomoto (https://valuechain.wiki/ajinomoto.md)
- T3 Cosmo Advanced Materials & Technology (https://valuechain.wiki/cosmo-advanced-materials-technology.md)
- T2 Cohu (https://valuechain.wiki/cohu.md)
- T2 LG Innotek (https://valuechain.wiki/lg-innotek.md)
- T3 LG Electronics (https://valuechain.wiki/lg-electronics.md)
- T2 ENF Technology (https://valuechain.wiki/enf-technology.md)
- T2 Dongjin Semichem (https://valuechain.wiki/dongjin-semichem.md)
- T2 Soulbrain (https://valuechain.wiki/soulbrain.md)
- T2 Jusung Engineering (https://valuechain.wiki/jusung-engineering.md)
- T2 PSK Inc (https://valuechain.wiki/psk-inc.md)
- T2 Eugene Technology (https://valuechain.wiki/eugene-tech.md)
- T2 ISC (https://valuechain.wiki/isc.md)
- T2 Park Systems (https://valuechain.wiki/park-systems.md)
- T2 Qorvo (https://valuechain.wiki/qorvo.md)
- T3 Skyworks Solutions (https://valuechain.wiki/skyworks-solutions.md)
- T2 LG Display (https://valuechain.wiki/lg-display.md)
- T3 Corning (https://valuechain.wiki/corning.md)
- T3 Nitto Denko (https://valuechain.wiki/nitto-denko.md)
- T2 Hana Micron (https://valuechain.wiki/hana-micron.md)
- T2 Kokusai Electric (https://valuechain.wiki/kokusai-electric.md)
- T2 Powertech Technology (PTI) (https://valuechain.wiki/powertech.md)
- T2 FormFactor (https://valuechain.wiki/formfactor.md)
- T2 Simmtech (https://valuechain.wiki/simmtech.md)
- T2 Arteris (https://valuechain.wiki/arteris.md)
- T2 Samsung E&A (https://valuechain.wiki/samsung-e-a.md)
- T3 Ecopro HN (https://valuechain.wiki/ecopro-hn.md)
- T2 Air Products and Chemicals (https://valuechain.wiki/air-products.md)
- T2 Sumitomo Chemical (https://valuechain.wiki/sumitomo-chemical.md)
- T1 SK hynix (https://valuechain.wiki/sk-hynix.md)
- T2 Hanwha Semitech (https://valuechain.wiki/hanwha-semitech.md)
- T3 Hanwha Vision (https://valuechain.wiki/hanwha-vision.md)
- T2 SK Square (https://valuechain.wiki/sk-square.md)
- T2 ACM Research (https://valuechain.wiki/acm-research.md)
- T1 Micron Technology (https://valuechain.wiki/micron.md)
- T1 Broadcom (https://valuechain.wiki/broadcom.md)
- T2 Keysight Technologies (https://valuechain.wiki/keysight.md)
- T2 Toppan Printing (https://valuechain.wiki/toppan-printing.md)
- T3 AGC (https://valuechain.wiki/agc.md)
- T1 Sony Semiconductor Solutions (https://valuechain.wiki/sony-semiconductor.md)
- T1 NXP Semiconductors (https://valuechain.wiki/nxp.md)
- T1 Texas Instruments (https://valuechain.wiki/texas-instruments.md)
- T1 Amkor Technology (https://valuechain.wiki/amkor.md)
- T1 Infineon Technologies (https://valuechain.wiki/infineon.md)
- T2 Wolfspeed (https://valuechain.wiki/wolfspeed.md)
- T1 STMicroelectronics (https://valuechain.wiki/stmicroelectronics.md)
- T1 Foxconn (Hon Hai) (https://valuechain.wiki/foxconn.md)
- T2 NVIDIA (https://valuechain.wiki/nvidia.md)
- T3 Coherent (https://valuechain.wiki/coherent.md)
- T3 Monolithic Power (https://valuechain.wiki/monolithic-power.md)
- T3 Kioxia (https://valuechain.wiki/kioxia.md)
- T3 ASE Technology (https://valuechain.wiki/ase.md)
- T3 Unimicron (https://valuechain.wiki/unimicron.md)
- T3 OpenAI (https://valuechain.wiki/openai.md)
- T3 Lumentum (https://valuechain.wiki/lumentum.md)
- T3 Fabrinet (https://valuechain.wiki/fabrinet.md)
- T3 Eoptolink (https://valuechain.wiki/eoptolink.md)
- T3 Amphenol (https://valuechain.wiki/amphenol.md)
- T3 Nebius Group (https://valuechain.wiki/nebius.md)
- T3 ABB (https://valuechain.wiki/abb.md)
- T3 Murata Manufacturing (https://valuechain.wiki/murata.md)
- T3 Recursion Pharmaceuticals (https://valuechain.wiki/recursion.md)
- T3 onsemi (https://valuechain.wiki/onsemi.md)
- T3 BlackRock (https://valuechain.wiki/blackrock.md)
- T3 Analog Devices (https://valuechain.wiki/analog-devices.md)
- T3 BYD Electronics (https://valuechain.wiki/byd-electronics.md)
- T3 Wistron (https://valuechain.wiki/wistron.md)
- T3 Pegatron (https://valuechain.wiki/pegatron.md)
- T3 Astera Labs (https://valuechain.wiki/astera-labs.md)
- T3 CoreWeave (https://valuechain.wiki/coreweave.md)
- T3 Ibiden (https://valuechain.wiki/ibiden.md)
- T3 Luxshare Precision (https://valuechain.wiki/luxshare.md)
- T3 InnoLight (https://valuechain.wiki/innolight.md)
- T3 Delta Electronics (https://valuechain.wiki/delta-electronics.md)
- T3 TE Connectivity (https://valuechain.wiki/te-connectivity.md)
- T3 Digital Realty (https://valuechain.wiki/digital-realty.md)
- T2 UBTech Robotics (https://valuechain.wiki/ubtech.md)
- T3 Harmonic Drive Systems (https://valuechain.wiki/harmonic-drive.md)
- T3 CATL (https://valuechain.wiki/catl.md)
- T3 Nidec (https://valuechain.wiki/nidec.md)
- T3 Inovance Technology (https://valuechain.wiki/inovance.md)
- T2 FANUC (https://valuechain.wiki/fanuc.md)
- T3 Nabtesco (https://valuechain.wiki/nabtesco.md)
- T1 Qualcomm (https://valuechain.wiki/qualcomm.md)
- T2 Soitec (https://valuechain.wiki/soitec.md)
- T2 SMIC (https://valuechain.wiki/smic.md)
- T3 AMEC (https://valuechain.wiki/amec.md)
- T3 Naura Technology (https://valuechain.wiki/naura.md)
- T1 Globalstar (https://valuechain.wiki/globalstar.md)
- T2 SpaceX (https://valuechain.wiki/spacex.md)
- T3 EchoStar Corporation (https://valuechain.wiki/echostar.md)
- T2 Amazon (https://valuechain.wiki/amazon.md)
- T3 Quanta Computer (https://valuechain.wiki/quanta.md)
- T3 Seagate Technology (https://valuechain.wiki/seagate.md)
- T3 Credo Technology (https://valuechain.wiki/credo.md)
- T3 Marvell (https://valuechain.wiki/marvell.md)
- T3 Alchip Technologies (https://valuechain.wiki/alchip.md)
- T3 SanDisk (https://valuechain.wiki/sandisk.md)
- T3 Arista Networks (https://valuechain.wiki/arista.md)
- T3 Anthropic (https://valuechain.wiki/anthropic.md)
- T3 Wiwynn (https://valuechain.wiki/wiwynn.md)
- T3 IonQ (https://valuechain.wiki/ionq.md)
- T3 Rigetti Computing (https://valuechain.wiki/rigetti.md)
- T3 D-Wave Quantum (https://valuechain.wiki/d-wave.md)
- T3 Eaton (https://valuechain.wiki/eaton.md)
- T3 Schneider Electric (https://valuechain.wiki/schneider-electric.md)
- T3 GE Vernova (https://valuechain.wiki/ge-vernova.md)
- T3 Vistra (https://valuechain.wiki/vistra.md)
- T3 Quantum Computing Inc (https://valuechain.wiki/qubt.md)
- T3 Talen Energy (https://valuechain.wiki/talen-energy.md)
- T3 Ciena (https://valuechain.wiki/ciena.md)
- T3 Cerebras Systems (https://valuechain.wiki/cerebras.md)
- T3 Cummins (https://valuechain.wiki/cummins.md)
- T3 Caterpillar (https://valuechain.wiki/caterpillar.md)
- T3 Celestica (https://valuechain.wiki/celestica.md)
- T3 Nike (https://valuechain.wiki/nike.md)
- T3 Amorepacific (https://valuechain.wiki/amorepacific.md)
- T3 Procter & Gamble (https://valuechain.wiki/procter-gamble.md)
- T3 ArianeGroup (https://valuechain.wiki/arianegroup.md)
- T3 Jabil (https://valuechain.wiki/jabil.md)
- T3 Exelon (https://valuechain.wiki/exelon.md)
- T3 Abbott Laboratories (https://valuechain.wiki/abbott-laboratories.md)
- T3 United Parcel Service, Inc. (https://valuechain.wiki/united-parcel-service.md)
- T3 FedEx (https://valuechain.wiki/fedex.md)
- T3 Colgate-Palmolive Company (https://valuechain.wiki/colgate-palmolive.md)
- T3 Norfolk Southern (https://valuechain.wiki/norfolk-southern.md)
- T3 Occidental Petroleum (https://valuechain.wiki/occidental-petroleum.md)
- T3 Entergy (https://valuechain.wiki/entergy.md)
- T3 The Estée Lauder Companies Inc. (https://valuechain.wiki/est-e-lauder-companies.md)
- T3 Ameren Corporation (https://valuechain.wiki/ameren.md)
- T3 Church & Dwight Co., Inc. (https://valuechain.wiki/church-dwight.md)
- T3 Omnicom Group Inc. (https://valuechain.wiki/omnicom-group.md)
- T2 MDA Space (https://valuechain.wiki/mda-space.md)
- T3 Voyager Technologies (https://valuechain.wiki/voyager-technologies.md)
- T3 Rocket Lab (https://valuechain.wiki/rocket-lab.md)
- T3 RTX (https://valuechain.wiki/rtx.md)
- T1 Fujikura (https://valuechain.wiki/fujikura.md)
- T1 Berkshire Hathaway (https://valuechain.wiki/berkshire-hathaway.md)
- T2 Alphabet (Google) (https://valuechain.wiki/alphabet.md)
- T3 Intel (https://valuechain.wiki/intel.md)
- T3 TeraWulf (https://valuechain.wiki/terawulf.md)
- T3 NextEra Energy (https://valuechain.wiki/nextera-energy.md)
- T3 Flex Ltd. (https://valuechain.wiki/flex-ltd.md)
- T3 Comcast Corporation (https://valuechain.wiki/comcast.md)
- T3 Duke Energy Corporation (https://valuechain.wiki/duke-energy.md)
- T3 Xcel Energy (https://valuechain.wiki/xcel-energy.md)
- T3 Fox Corporation (https://valuechain.wiki/fox.md)
- T2 Itochu (https://valuechain.wiki/itochu.md)
- T3 CITIC Limited (https://valuechain.wiki/citic-limited.md)
- T3 Hitachi Construction Machinery (https://valuechain.wiki/hitachi-construction-machinery.md)
- T2 Mitsubishi (https://valuechain.wiki/mitsubishi.md)
- T3 Mitsubishi Motors (https://valuechain.wiki/mitsubishi-motors.md)
- T2 UnitedHealth Group Incorporated (https://valuechain.wiki/unitedhealth-group.md)
- T3 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 Labcorp Holdings Inc. (https://valuechain.wiki/labcorp.md)
- T3 Quest Diagnostics Incorporated (https://valuechain.wiki/quest-diagnostics.md)
- T2 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Microsoft (https://valuechain.wiki/microsoft.md)
- T2 VeriSign, Inc. (https://valuechain.wiki/verisign.md)
- T3 Equinix (https://valuechain.wiki/equinix.md)
- T2 American Express (https://valuechain.wiki/american-express.md)
- T3 Delta Air Lines (https://valuechain.wiki/delta-air-lines.md)
- T3 Hilton Worldwide Holdings Inc. (https://valuechain.wiki/hilton-worldwide.md)
- T3 Marriott International, Inc. (https://valuechain.wiki/marriott-international.md)
- T1 Alibaba Group (https://valuechain.wiki/alibaba.md)
- T2 Ralph Lauren Corporation (https://valuechain.wiki/ralph-lauren.md)
- T3 Salesforce, Inc. (https://valuechain.wiki/salesforce.md)
- T1 Sunny Optical (https://valuechain.wiki/sunny-optical.md)
- T1 Kyocera (https://valuechain.wiki/kyocera.md)
- T1 Take-Two Interactive Software, Inc. (https://valuechain.wiki/take-two-interactive.md)
- T1 Las Vegas Sands Corp. (https://valuechain.wiki/las-vegas-sands.md)
- T2 Sands China (https://valuechain.wiki/sands-china.md)

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Full node: https://valuechain.wiki/apple.md · JSON: https://valuechain.wiki/apple.json