Intel (INTC) Shares Soar 14% on Apple (AAPL) Chip Deal Report
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowIntel (INTC) shares surged nearly 14% on Friday, following reports of a potential agreement to supply chips for Apple (AAPL) devices. Talks have reportedly been ongoing for over a year, with a preliminary deal reached in recent months. Currently, Intel's shares have increased over 200% this year, as it ramps up production with a new fabrication plant in Chandler, Arizona. If realized, this deal marks a strategic pivot for Apple, which has primarily relied on Taiwan Semiconductor Manufacturing Co. for its semiconductor needs.
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About Apple Inc. (AAPL)
Apple designs and sells consumer electronics: the iPhone, Mac, iPad and Apple Watch. It also runs a fast-growing services business spanning the App Store, iCloud and Apple Pay.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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