The angle I see is that Apple has been moving towards more vertical integration, so the full cycle is to get back into manufacture not just design.
they really haven't done vertical just for vertical sake. The is more so driven by miniaturization and "system on a chip" moves than 'vertical. As separate discrete chips collapse they beome one and Apple coordinating becomes a bigger overhead. If there is a vendor that does a better job , at a better cost then Apple tends to leave it along ( e.g., Displays. )
Maximizing perf/wat isn't vertical. It is making something specific that doesn't try to be a sell everything to everybody solution.
Qualcomm did good work for Apple but it become more of a pot-calling-kettle-black situation where Qualcomm wanted a percentage of the price ( sort of hoave RAM and NAND are at the moment) and Apple pushed back.
( I don't think the modem will totally merge because inter die integration means don't have to be momolithic dies to be effieient in the future. And bleeding edge wafer costs are growing ever more expensive.)
One of the most rapid growing businesses Apple has is 'Services'. That has the facade on the outside that it is just Apple ( just Apple collecting money in the store, just provisioning authentication , etc. ) , but there are large portions of "Cloud Services" that run at AWS/Azure/GoogleCloud. The relay/VPN service I'm pretty sure has a major Cloudflare component.
Apple TV the streaming serveice. Apple is the 'front man' for the operation, but a large set of independent operators behind that.
So that they can better do what the do to RAM and disk like they did with CPU, which is kind of the direction the SOC paradigm is evolving so far.
apple took the SSD controler and stuffed it into the SoC a long while back. That didn't move the NAND chips. Apple isn't going to do commodiities. ( e.g. like monitors. Apple does maybe 1-2 Display docking stations , but they don't try to attack the general monitor market. )
If the big pendulum is shifting back from timesharing systems (the "cloud") to local compute, and prices are already rising why not make a better complete package?
Private Cloud Compute is a relatively very narrow workload. ( And Apple is already working on mapping that general service onto Google Cloud. Eventually they probably will map a larger share of that back out, but for now and likely for far into future it is a better scaling option. )
XCode Ckoud is another narrow niche deployment.
Just like dependency on Intel was an achilles heel, so it dependency on the few RAM and drive makers. Time to roll your own on these too, Apple.
Being dependent between one and only one vendor is substantively different than 2-3. Apple didn't try to weave AMD into mix at all ( for good reasons. they were not doing a good job until after Apple has mostly decided to leave x86). Additionally, Apple is contributing part of the reason why the RAM vendors. Apple squeezes all the profits out of RAM and NAND. (charge way over market prices ) and in Scrooge McDuck sent almost none of that back to the RAM/NAND vendors as guaranteed income they could use to invest in more capacity.
Apple got complacent like Intel did. They were a top 3 consumer of RAM/NAND so they dominated their suppliers. to wrangle maximal discounts. Short that looks smart , but long term foolish. Especially if other vendors come around and spend money like drunken sailors ( try to give them vendors profits to increase capacity as oppose to trying to make creating capacity a more risky endeavor. )
Also seems aligned to Apple's new CEO being hardware deep, that's non-trivial to me.
Painting yourself into a corner with a butterfly keyboard because worshipping at the "max thinness" politboro is not being 'vertical focused'.
Sure "Apple Memory" wouldn't come out until 5 or 10 years but the shift this big takes time. They certainly have the capex for it.
If spend billions on stock buy backs and issuing bonds to duck paying taxes ... they kind of don't. If Apple's 'free' money $20B/year Google paycheck for 'work' that Apple product users actually do disappears then again the finances are tighter than they look now.
The direction is clear, the cloud era of which big AI is a part is ready to snap, crackle, pop.
For large scale training? Probably not. But the notion that all inference had to happen in the cloud. That is more so driven by trying to artificially inflate valuations ( cash out and get rich) than . Mostly based on wiping out 10 million (or so) peoples jobs and taking all their paycheck money to fund the cloud.
The mac can only be a "bicycle for the mind" if it's independent and a thicker client. Thin client is dying, again.
It wasn't a push to thinner clients it was a push to wipe out most of the folks sitting at the client. Take their skills and over time leave them with fewer and fewer skills until have addicts , not clients.