Qualcomm Rises 6% in Broad Chip Rally Sparked by Apple-Intel U.S. Deal
QCOM•QCOM•QCOM•QCOM•Qualcomm shares rose 6% as chip stocks rallied after President Trump’s announcement that Apple will partner with Intel to design and build chips in the U.S. Nvidia gained 3%, AMD and Broadcom each rose 4%, and Micron jumped 11% after price target increases.
President Trump’s statement that Apple will collaborate with Intel on U.S. chip design and manufacturing triggered an 11% surge in Intel shares and fueled optimism for domestic semiconductor production.
Qualcomm shares jumped 6% on heavy volume as investor sentiment improved across AI and chip stocks, lifting the company's market strength following the announcement.
The rally extended to Nvidia (+3%), AMD and Broadcom (+4% each), and Micron (+11%) after fresh price target increases, while major benchmarks rallied over 1%.
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