Toshiba produces 40% of the world's flash memory while Mitsubishi Gas produces BT resin for Apple's circuit boards. But Munster points out that Apple uses multiple suppliers which lessens the reliance on one particular company and helps the company continue production even when a one-two punch of natural disasters takes place. The analyst said, " This strategy has proven to be an effective way for Apple to leverage its balance sheet and its position as one of the largest buyers of many of the components it uses; moreover, this strategy may prove particularly helpful if supply is limited and pricing increases. Finally, we believe Apple buys futures on important components, which will help offset near-term pricing swings. Our conclusion is that Apple is well positioned to suffer proportionally less than its competitors."