"Shares of Intel are catapulting 14% in Tuesday morning trading, changing hands near $109.60 after Bloomberg reported that Apple is exploring Intel's foundry services for future U.S. chip production."
"The catalyst is a Bloomberg report indicating that Apple is in early-stage discussions with Intel and Samsung about manufacturing main device chips inside the U.S., looking to diversify away from Taiwan Semiconductor."
"Intel's Q1 2026 print delivered non-GAAP EPS of $0.29 against a $0.0127 consensus and revenue of $13.58 billion, marking the sixth consecutive quarter of revenue beats."
Intel's stock rose 14% following a Bloomberg report that Apple is considering Intel's foundry services for future chip production in the U.S. This increase extends Intel's impressive performance, with shares up 118% over the past month and 197% year to date. The discussions with Apple are exploratory, aimed at diversifying from Taiwan Semiconductor. Intel's recent earnings report showed strong fundamentals, with significant revenue growth in Data Center and AI sectors, further supporting the stock's upward momentum.
Read at 24/7 Wall St.
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