Intel Surges on Apple Partnership While Chip Stocks Rebound; SpaceX Faces First Major Decline

Intel shares rallied sharply following reports of a new semiconductor collaboration with Apple, focusing on U.S.-based manufacturing. The partnership signals a strategic push to bolster domestic chip production amid global supply chain concerns. Intel's foundry business gains momentum as it competes with TSMC and Samsung.

Semiconductor stocks staged a robust recovery, with Nvidia, Micron, and Broadcom leading the charge. Investor appetite returned after weeks of valuation concerns, particularly in AI-driven segments. The sector's resilience underscores the enduring demand for advanced computing power.

SpaceX experienced its first significant post-IPO decline as early investors took profits. The pullback follows a record-breaking debut that had captivated public markets. Meanwhile, easing oil prices on potential U.S.-Iran diplomacy tempered inflation fears across risk assets.

Apple warned of rising memory costs potentially impacting future product pricing—a development that could ripple through consumer electronics and adjacent tech sectors. The announcement highlights ongoing supply chain pressures in hardware manufacturing.