TLDR
- Intel stock jumped around 7–8% on Thursday after President Trump posted on Truth Social that Apple had agreed to work with Intel to design and build chips in the U.S.
- Trump did not provide full details of the arrangement, and neither Intel nor Apple has publicly confirmed it.
- Wedbush analysts described a potential formalized deal as a “genuine endorsement” of Intel’s foundry business but cautioned the arrangement still appears preliminary.
- Analysts expect any Apple production at Intel would involve mature or lower-end silicon, not flagship application processors, which remain with TSMC.
- Intel stock has surged 464% over the past 12 months, with the company now sitting at a market cap of $608.7 billion.
Intel (INTC) stock surged around 7–8% on Thursday morning after President Donald Trump posted on Truth Social that Apple had agreed to partner with Intel to design and manufacture chips on U.S. soil.
Trump’s post was direct: “Apple has agreed to work with Intel to design and build its Chips in America.” He framed it as part of a broader push to bring semiconductor manufacturing back to the United States.
Intel was trading up roughly $8.86, last seen around $129.96 in early Thursday trading. Apple edged up about 1.3% in premarket.
Trump’s post also referenced Nvidia and Elon Musk’s Terafab project, describing a series of domestic chip commitments he said his administration helped broker.
“I decided to help Intel because we need to design and build our Chips right here in America,” Trump wrote.
The Terafab project, described by Trump as “the largest Chip Factory in the World,” would be the first major outside commitment for Intel’s foundry business, which had previously only made chips for its own products.
Neither Intel nor Apple has issued a statement confirming the deal. CNBC said it had contacted both companies along with the White House for comment.
What Analysts Are Saying
Wedbush analysts said a formalized partnership would be a meaningful win for Intel’s turnaround strategy under CEO Lip-Bu Tan, calling it a “genuine endorsement” of its foundry ambitions. Adding Apple alongside Nvidia and government-backed projects would raise Intel’s profile as a contract chipmaker.
That said, Wedbush was careful to note the details remain thin. Trump’s comments appear to describe a preliminary arrangement that hasn’t been fully outlined yet.
The analysts also expect any chips Apple produces through Intel would be mature or lower-end silicon — not the advanced application processors that power iPhones and Macs. Those are still expected to come from TSMC.
Wedbush maintained its Outperform rating on Apple with a $400 price target. Apple was last trading around $299.
Intel’s Turnaround Under Lip-Bu Tan
Tan took over as CEO early last year and has worked to rebuild confidence in the company after years of manufacturing setbacks and lost ground to rivals.
Intel largely missed the initial AI wave. But a string of high-profile announcements — including Nvidia agreeing to build chips using Intel’s foundry — has shifted the narrative.
The stock has climbed 464% over the past 12 months, pushing Intel’s market cap to $608.7 billion.
The broader chip sector has also been on a run. The PHLX Semiconductor Sector Index, which tracks the 30 largest U.S.-traded chip companies, is up 90% so far this year.
Wedbush noted the Apple arrangement, if finalized, would help Apple diversify its manufacturing base and reduce reliance on TSMC as demand for semiconductors grows.
Trump posted that the Apple-Intel partnership came after he helped bring Nvidia into the fold. “First, we helped bring in Nvidia, and they agreed to build their first level Chips with Intel,” he said.
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