Intel shares climbed sharply on Tuesday as reports emerged of a potential deal with Apple to manufacture chips for the iPhone maker's devices.
The development marks a significant pivot for Intel, which has historically focused on other markets but is now reportedly positioning itself to supply Apple's advanced components.
The stock's 14% rise to a record high reflects investor optimism about the potential for increased demand and a broader role in the high-margin chip market.
The stock's 14% rise to a record high reflects investor optimism about the potential for increased demand and a broader role in the high-margin chip market.
This follows a strong performance in April, when Intel shares also saw notable gains.
The reported talks between Apple and Intel come amid a broader industry shift toward custom chip design, particularly for AI and data center applications.
If finalized, the deal would place Intel alongside Samsung and TSMC as one of the few companies capable of producing the most advanced chips required for cutting-edge devices.