Intel Gains 9% Premarket on Apple U.S. Chip Design Deal
INTC•Intel shares jumped 9% premarket after securing a U.S. chip design and manufacturing deal with Apple. The stock has rallied 228% year-to-date and could revisit its May 11 record high of $132.75.
1. Agreement Details
Intel will design and manufacture custom chips for Apple at its U.S. foundry facilities under a multi-year collaboration, marking its first major partnership with a leading consumer electronics firm.
2. Stock Impact
The news drove Intel shares up 9% in premarket trading, contributing to a 228% gain since January and setting the stage for a possible test of the May 11 record high of $132.75.
