Intel Gains 10% on Preliminary Apple Foundry Deal and 18A-P Node Launch
INTC•Intel stock jumped 10% after signals of a preliminary deal to manufacture Apple’s iPhone chips, marking Intel’s first iPhone foundry partnership. The surge capstones Intel’s turnaround, supplemented by initial production of its 18A-P node and new orders including 3 million TPUs for Google.
1. Apple Preliminary Foundry Agreement
On June 18, a post from President Trump indicated that Apple has agreed to work with Intel to build its iPhone processors under a preliminary deal. Intel has not issued a comment, but the announcement marks the first step toward restoring Apple as a foundry customer.
2. Foundry Business Momentum
Intel’s latest 18A-P processor node entered initial production this week, signaling progress toward full-volume manufacturing. The company has also secured an order for 3 million Tensor Processing Units for Google and is in discussions to fabricate processors for Nvidia.
3. Turnaround and Stock Surge
These developments build on a turnaround strategy begun under Pat Gelsinger and continued by CEO Lip-Bu Tan, focusing on cost cuts and third-party foundry deals. The combined momentum has driven Intel’s stock up more than 250% this year and 500% over the past 12 months.
