Intel Surges Past $40 on Rumored Apple AI Chip Deal
Intel shares broke through a key resistance level after reports surfaced of a potential chip-supply agreement with Apple. The semiconductor stock climbed 8% to $43 following analyst Ming-Chi Kuo's disclosure that Intel may begin shipping processors for Apple devices as early as 2027.
Market reaction suggests investors view this as a strategic win for Intel's foundry business. The reported deal WOULD mark Apple's return to Intel technology after transitioning to TSMC-manufactured custom chips. Intel's 18A-P process node, promising performance gains over current offerings, appears central to the arrangement.
While neither company has confirmed the partnership, the speculation fueled rallies across both stocks. The development highlights intensifying competition in advanced chip manufacturing, particularly for AI applications.
