Intel's reported Apple deal sends stock soaring, as turnaround continues to payoff
Key takeaways
- Trump s statement follows an earlier report from the Wall Street Journal that the two companies had reached a preliminary agreement under which Intel would manufacture chips for the iPhone maker.
- Apple previously used Intel s chips in its laptops and desktops, but later abandoned Intel in favor of designing its own custom chips.
- The news comes after The Information reported that Intel will build 3 million Tensor Processing Units (TPUs) for Google (GOOG, GOOGL) and that Nvidia (NVDA) is exploring using Intel to fabricate its own processors.
Intel stock soars on reported Apple deal as turnaround continues to pay off Daniel Howley · Technology Editor Updated Thu, June 18, 2026 at 10:01 PM GMT+7 2 min read INTC AAPL Intel (INTC) stock soared 10% on Thursday after President Trump posted on Truth Social that Apple (AAPL) has agreed to work with the chipmaker to build its processors.
Trump s statement follows an earlier report from the Wall Street Journal that the two companies had reached a preliminary agreement under which Intel would manufacture chips for the iPhone maker.
In a note to investors, Bernstein analyst Stacy Rasgon speculated that the tie-up will likely revolve around "low-volume, less important parts," adding, "Intel will of course have to prove their mettle before being granted more substantial wins, but the first step is always the hardest, so at least they appear to be taking that step."