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Intel shares soar on Apple chip deal report. Here's why it signals a total pivot for chipmaking

CNBC·Katie Tarasov·24 days ago
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Apple and Intel are reportedly closing in on a deal that would see Intel make some of the chips for the iPhone maker's devices, marking a major shift in the chipmaking landscape. Talks between the two companies have been brewing for more than a year, with a preliminary agreement reached in recent months, the Wall Street Journal reported Friday, citing people familiar with the matter. Intel shares soared nearly 14% on Friday. Apple shares added 2%. Both companies declined to comment. "I 100% believe this is going to happen. I don't know when," chip analyst Ben Bajarin of Creative Strategies said in an interview. If it comes to fruition, the deal would be the most notable vote of confidence yet for Intel's once-struggling chip foundry business. Intel shares are up more than 200% this year. For Apple, it would be the end of era. The iPhone maker currently relies solely on Taiwan Semiconductor Manufacturing Company to make all the most advanced chips for its devices.…

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