Intel Stock Surges to Record High on Apple’s Potential U.S. Chip Partnership

Shares of Intel Corporation (Nasdaq: INTC) surged over 13% on Tuesday following a Bloomberg report that Apple is considering using Intel, alongside Samsung Electronics Co, to produce processors for its devices in the U.S.

This milestone marks a significant rebound for Intel, which has seen its stock hit an all-time high above $100 per share after months of recovery.

Apple’s Stock Rises on Strong Earnings and Supply Diversification

Apple (AAPL) shares climbed just over 1% midday Tuesday, driven by the report and last week’s strong second-quarter earnings. The company reported “extraordinary demand” for the iPhone 17 lineup, with outgoing CEO Tim Cook calling it Apple’s “best March quarter ever.”

Revenue for the quarter reached $111.2 billion, with double-digit growth across every geographic segment.

The potential partnership with Intel and Samsung could reduce Apple’s reliance on Taiwan Semiconductor Manufacturing Co. (TSMC) for chip production, offering new supply chain options.

Intel’s AI Leadership Highlighted Amid Supply Constraints

During a Thursday conference call with analysts, Cook noted that high demand for Apple’s products is straining the supply of advanced chips needed for production. Equities Research analyst Trip Chowdhry emphasized Intel’s AI chips as “several years ahead of TSMC.”

Potential Deal Details

According to Bloomberg, Apple has held early-stage talks with Intel and executives have visited a Samsung plant under construction in Texas, signaling progress toward U.S.-based chip manufacturing.

Intel’s Financial Milestones

Intel’s Tuesday gains pushed its stock to a 55-year high, following a 114% jump last month and a 200% year-to-date increase.

As of Tuesday, Intel’s market cap reached $542.9 billion, surpassing its previous record of $501.51 billion set on August 31, 2000, per MarketWatch.