Intel Stock Surges 9% on Apple Chip Deal Rumors

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2026-06-18 19:42:01

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Intel shares rallied as much as 9% Thursday following reports of a preliminary agreement to manufacture chips for Apple. The Wall Street Journal noted the deal could help Apple diversify from its reliance on Taiwan Semiconductor Manufacturing Co. Wedbush analyst Dan Ives called the move strategic, noting negotiations had lasted over a year before gaining public confirmation from former President Trump.

The partnership marks a reversal for Apple, which previously abandoned Intel’s processors in favor of in-house silicon. For Intel, the deal continues its resurgence under CEO Lip-Bu Tan—cost-cutting measures and foundry expansion have propelled the stock 515% in a year, outperforming rivals AMD and Nvidia. Government contracts and custom chip production now drive growth.

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