Intel shares spiked on Thursday after President Donald Trump said Apple has agreed to work with the chipmaker to make processors in the United States.
The announcement came in a Truth Social post, in which Trump said Apple would partner with Intel to "design and build" chips domestically. According to Morningstar's MarketWatch, the post praised the government's involvement in the move.
Reports on the size of the stock move varied. MarketWatch reported Intel's stock jumped 11%, while AOL put the gain at 10%. Multiple outlets, including the International Business Times and eciks.org, cited a roughly 9% surge, and Blockonomi reported a 7% rise. The Business Journals reported that Intel shares reached a new high following Trump's comments.
Analysts urged some caution. According to MarketWatch, market watchers said the new Apple chip deal "might start small," tempering expectations even as the stock climbed. Blockonomi similarly noted that analysts were weighing the deal's longer-term prospects.
The companies themselves stayed quiet. AOL reported that Intel had no comment on the reported arrangement, and the announcement so far has come from Trump rather than from Apple or Intel directly. Gadget Hacks raised the open question of whether the manufacturing deal is, in fact, finalized.
Why it matters: Apple shifting chip work to Intel on U.S. soil would mark a notable vote of confidence in Intel's turnaround and in domestic semiconductor manufacturing — but with key details unconfirmed and analysts cautioning the partnership may start small, the market's enthusiasm is running ahead of what has actually been announced.