Intel Stock Jumps 8.7% on Apple Manufacturing Rumors and Malaysia Expansion
Intel shares surged 8.7% Tuesday amid speculation the chipmaker could land a contract to produce processors for Apple devices. The rally far outpaced broader market gains, with the S&P 500 and Nasdaq Composite rising just 0.2% and 0.5% respectively.
TF International analyst Ming-Chi Kuo claimed Intel WOULD manufacture lower-end M-series chips for MacBook Air and iPad Pro models, with production potentially starting in Q2 2027. While unconfirmed by either company, the prospect of supplying Apple's silicon marks a potential turnaround opportunity for Intel's struggling semiconductor business.
Separately, Intel announced a $200 million expansion of its Malaysian operations, building on its $7 billion 2021 investment in Penang. The facility, now 99% complete, strengthens Intel's position in a country handling 13% of global chip assembly and testing.
