NEW YORK, June 19, 2026, 05:00 (EDT)
- U.S. equity markets will remain shut on Friday for Juneteenth. Intel finished Thursday up 10.64% at $133.99, its last trade before the holiday.
- Shares climbed after President Donald Trump said Apple will team up with Intel to handle U.S. chip design and manufacturing. Apple and Intel didn’t respond to Reuters’ request for comment.
- Intel this week said its 18A-P node is in risk production, and tapped Seok-Hee Lee to head advanced packaging efforts. The company also gave an update on foundry progress.
Intel shares finished the holiday week at an all-time high. President Donald Trump said Apple would work with Intel to design and make chips in the U.S., giving fresh political and commercial momentum to Intel’s long-running bid to revive its chip-making. The Nasdaq and NYSE stayed closed Friday for Juneteenth, so there was no regular U.S. trading.
Timing is key. Intel is pitching its foundry operation as a real rival to Taiwan Semiconductor Manufacturing Co, but now, the market is seeing the Apple sign as more than just talk of a turnaround. Reuters said an Apple deal could bring Intel consistent orders and help it catch up to TSMC, the top contract chip producer.
Intel shares ended Thursday at $133.99, a jump of 10.64%. The stock saw a sharp 8.45% slide on Tuesday and a 3.46% gain on Wednesday. For the holiday-shortened week, Intel rose about 7.6% from last Friday’s close at $124.57.
Chip stocks rallied, with the Philadelphia Semiconductor Index up 6.4% on Thursday. The Nasdaq added 1.91%. The S&P 500 gained 0.93% this week and the Nasdaq rose 2.43%, according to Reuters. Nvidia and AMD traded in the mix as TSMC continued to face strong AI-driven demand and stayed the foundry leader Intel is trying to catch.
Trump didn’t say what kind of chips Intel would make for Apple. Reuters said Intel was Apple’s Mac processor supplier for around 15 years before Apple switched to in-house M-series chips made by TSMC in 2020.
Bernstein’s Stacy Rasgon said Intel’s first work for Apple, if any, would probably be limited to small-volume, lower-priority chips, according to Axios. Rasgon said Intel still has to “prove their mettle,” adding, “the first step is always the hardest.” Axios
Intel’s latest technical update gave the stock a boost. The company announced that 18A-P, its upgraded 18A chip process, has started risk production, which is an early step before full-scale manufacturing. Intel said the 18A-P delivers 9% better performance on the same power, or uses 18% less power for the same performance. Naga Chandrasekaran, who runs Intel Foundry, called the process “a journey” and said the news points to Intel’s long-term commitment. Newsroom
Intel named Seok-Hee Lee as executive vice president of Intel Foundry, where he’ll lead advanced packaging, system integration and back-end manufacturing. Advanced packaging involves putting several chips together in a single package for better performance and lower power use. CEO Lip-Bu Tan called it a “defining capability.” Lee said Intel was “uniquely positioned to lead.” Newsroom
Risk is obvious here. Apple and Intel have not responded to Reuters, so investors are left unclear on the scale, timing or margin for the chips. Intel warned this week its manufacturing push brings risks from high competition, big spending ahead and the complexity of new process tech.
The coming week will show if Thursday’s rally sticks as U.S. markets reopen. Traders want updates from Intel or Apple, clearer numbers on likely volumes, and proof that 18A-P plus packaging moves are shaping up as revenue drivers, not just tech steps.
Right now, the market is no longer just waiting for Intel to make progress—it’s starting to pay for the chance that big customers may be getting on board. But the tough work is ahead: Intel still has to turn government backing, risk runs and new hires into solid volumes, better yields and actual revenue that hits the books. The last guidance from Intel was for second-quarter revenue in a range of $13.8 billion to $14.8 billion. The next earnings will be a clearer read on how much of that picture is already priced in.
