Intel’s stock jumped 13% today over Apple chip manufacturing report

Source: 9to5Mac

Intel’s stock hit a record high today in the aftermath of a Bloomberg report that claimed Apple is exploring Intel and Samsung Electronics as potential manufacturing partners for future device chips. Here are the details.

Intel hits record‑high valuation

Record‑high valuation

Last night, Bloomberg reported that Apple had been exploring early‑stage talks with Intel and evaluating facilities from Samsung Electronics in a push to diversify production of its core device chips beyond TSMC.

The report noted that while Apple had reliability concerns and “may not ultimately move forward with another partner,” that was enough to send Intel’s stock on a tear.

Intel’s stock climbed as high as $110.48 during trading today, marking a record high, before closing at $108.18 with a record market cap of $543.71 billion.

Factors behind the rally

Today’s gains extended what has been a remarkable comeback for Intel. After falling as low as $18.96 over the past year, the stock is now up 174 % in 2026 and 433 % from a year ago, with after‑hours trading adding another 4.76 %.

Much of these gains came after the U.S. government announced a deal to acquire a roughly 10 % stake in the company on August 22, 2025.

Intel’s leadership changes

In addition to that deal, CEO Lip‑Bu Tan has overseen a major reversal in Intel’s business momentum since replacing interim co‑CEOs David Zinsner and Michelle Johnston Holthaus, who led the company after the departure of former CEO Pat Gelsinger in December 2024.

In the interim, the company returned to revenue growth, topped Wall Street expectations, and has been benefiting from renewed demand for its core CPU business, particularly as AI infrastructure spending expanded beyond GPUs.

When it comes to its relationship with Apple, rekindling a partnership would be another feather in Tan’s cap, since Apple famously ditched Intel following roadmap delays and missed deadlines that affected the Mac’s business.

Potential Apple‑Intel partnership

Last July, Reuters reported that Tan was already exploring a shift in Intel’s foundry strategy aimed at making the company more competitive for major outside customers like Apple and Nvidia, including by focusing more resources on its next‑generation 14A process rather than trying to win new clients with 18A.

A few months after that, analysts Ming‑Chi Kuo and Jeff Pu both suggested that Intel could start producing some Apple‑designed chips later this decade, with Kuo pointing to base M‑series chips for Macs and iPads as soon as 2027, and Pu saying Intel‑made non‑Pro iPhone chips could follow in 2028.

That, in turn, came after Bloomberg reported that Intel had approached Apple about making an investment in the company, while the two companies also discussed ways to work more closely together as Intel tried to keep its comeback story going. From the report:

Intel Corp. has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government.
Apple and Intel also have discussed how to work more closely together, said the people, who asked to not be identified because the deliberations are private. The talks have been early‑stage and may not lead to an agreement.

All of that said, while this week’s report didn’t go into technical detail about Apple’s exploratory discussions with Intel, the market appears to have found the possibility compelling enough to factor it into Intel’s valuation, especially given everything else Tan has managed to accomplish during his first year on the job.

What’s your take on the possibility of Apple and Intel working together once again? Let us know in the comments.