New York, June 18, 2026, 16:44 (EDT)
- Intel ended the session up roughly 10.6%, finishing near a record $134. Shares moved in a range from $127.90 to $135.48.
- President Donald Trump said Apple will team up with Intel on U.S. chip design and manufacturing, but the two companies haven’t shared any commercial details.
- Intel started initial production on its improved 18A-P chip process this week, offering the stock another boost.
Intel jumped 10.6% to finish at a record close just under $134 on Thursday after Trump said Apple plans to team up with the chipmaker on U.S. semiconductor design and manufacturing. Intel’s rally added about $65 billion to its market cap, outpacing the broader market.
Apple signing on would be a big win for Intel Foundry, which is looking for validation from a huge, picky client. Apple has relied on Taiwan Semiconductor Manufacturing Co for its M-series chips since it stopped using Intel-designed ones in Macs back in 2020.
Intel Foundry faces a major shortfall. It reported a first-quarter operating loss of $2.44 billion, with just $174 million in revenue from outside foundry and assembly jobs. A big Apple contract could fill some unused fab space and let Intel point to a recognizable customer for potential chip clients.
There’s no word on the chip, manufacturing process, order size, or when production might start. Intel wouldn’t comment on any possible deal, and Apple hasn’t responded to comment requests. Wedbush analyst Dan Ives called Apple’s reported move “strategic” and said Trump’s post showed “a deal is now in place,” but that’s just the analyst’s take—it’s not confirmed by either firm. CBS News
Intel shares moved after the company said its 18A-P chip had reached “risk production,” which is an early step where it tests for defects and tweaks the process before large-scale production. The company claims the technology can boost performance 9% with no extra power, or save 18% power at the same speed. “This is a journey,” said Intel Foundry head Naga Chandrasekaran. He noted there’s “more work ahead.” Newsroom
Intel is seeing stronger demand in other parts of its business. It now sees second-quarter revenue coming in between $13.8 billion and $14.8 billion, topping the $13.07 billion average analyst estimate from LSEG. AI service providers are boosting orders for CPUs, the chips that handle server workloads.
Intel surged, outpacing a rally across tech. The Nasdaq Composite climbed 1.9%. Semiconductor names moved up, with Advanced Micro Devices up 4.7%. Nvidia rose 2.8% as chip stocks bounced with the market.
Intel shares are getting a boost that looks tied to hopes for Apple business, not just expectations for near-term wafer sales. Having Apple on board could convince other chip designers that Intel’s manufacturing is up to par. The bigger challenge for Intel is to hit the kind of manufacturing yields that TSMC delivers, meaning how many working chips come off each wafer.
Still, there’s clear risk. Bernstein’s Stacy Rasgon said Intel’s first Apple work likely means “low-volume, less important parts.” With shares up about 263% this year, there’s not much cover if the ramp is slow, yields slip or margins are thin. Any delay or if Apple sticks to just secondary components could wipe out some of Thursday’s pop. Yahoo Finance
Nasdaq is shut Friday, June 19 for Juneteenth. Trading resumes Monday, with the market waiting on written word from Apple or Intel, and more info on the process node, production schedule, expected output and pricing. Investors need these details to decide if Thursday’s record can hold up or if it’s just early hype.
