Intel Shares Jump 9% on Trump-Backed Apple Foundry Partnership
INTC•Intel shares rose over 9% after President Trump signaled a U.S. chip design and manufacturing partnership with Apple to bolster its foundry comeback. Wedbush analysts said the tie-up would deepen Apple’s domestic supply chain for rising AI demand and offset memory pressure on margins.
1. Announcement Sparks 9% Share Surge
President Trump announced a U.S. chip design and manufacturing partnership between Intel and Apple, sending Intel shares up over 9% in premarket trading on Thursday as investors anticipated a major boost to its foundry business.
2. Validation of Foundry Comeback
Securing Apple as a potential foundry client would mark a significant milestone in Intel’s strategy to rebuild its contract fabrication operations, complementing its nearly 10% government stake and the leadership focus of CEO Lip-Bu Tan on winning external chipmaking customers.
3. Impact on Apple’s Supply Chain
The deal would broaden Apple’s domestic production footprint to mitigate memory and storage cost pressures, support a multiyear AI cycle, and could enable planned product price increases later this year to maintain margin levels.
