AMD Shares Up 4% as Intel-Apple Partnership Sparks Chip Stock Rally
AMD•AMD shares climbed 4% on June 19 as semiconductor stocks rallied after President Trump announced Apple would partner with Intel on U.S.-built chips in exchange for a 10% government stake. The Nasdaq rose 1.6% following a U.S.-Iran hostilities agreement and Intel’s 11% jump, fueling the sector-wide advance.
1. Sector Rally and Trump Announcement
President Trump announced that Apple will work with Intel to design and build chips in the U.S., with the government taking a 10% stake in Intel. This move is intended to expand Apple’s domestic supply chain and help offset ongoing memory constraints.
2. AMD Stock Performance
AMD shares rose about 4% on June 19, mirroring gains at Nvidia, Broadcom and Qualcomm as investors poured into AI and semiconductor names. The chipmaker’s advance followed an 11% surge in Intel shares and fresh bullish sentiment across the industry.
3. Broader Market Impact
The tech rally extended to broader indices, with the Nasdaq climbing 1.6% and the S&P 500 up 1.1% after a U.S.-Iran agreement aimed at ending hostilities. Strength in semiconductor stocks led the gains, driven by hopes of accelerated domestic chip production.
