Intel shares rose as much as 15 percent on Tuesday to reach an all-time high of 110.48 dollars before closing at 108.18 dollars. The surge followed a Bloomberg report that Apple is in early discussions with Intel and Samsung Electronics about manufacturing its main device processors in the United States. This move aims to reduce Apple's reliance on Taiwan Semiconductor Manufacturing Company, its longtime exclusive chip manufacturer.
At the close, Intel's market capitalization hit a record 543.71 billion dollars, with after-hours trading adding another 4.76 percent. The stock has increased more than 174 percent in 2026 and roughly 433 percent from a year earlier, rebounding from a 52-week low of 18.96 dollars.
Both Samsung, Apple, and TSMC declined to comment on the report.
What Bloomberg Reported About Apple’s Chip Talks
According to Bloomberg, Apple executives have directly discussed foundry services with Intel and visited a Samsung facility in Texas that is under development for producing advanced chips. The report notes that these discussions are still in the early stages, with no firm orders placed. Apple might choose not to move forward with any manufacturing partner outside of TSMC.
Currently, Apple depends on TSMC's 3-nanometer process for the system-on-chip processors used in iPhones and Macs. CEO Tim Cook recently mentioned that Apple has "less flexibility in the supply chain than we normally would," citing chip shortages that have impacted the production of some products.
Additionally, Apple is working with TSMC to increase US production in Arizona, although these facilities are expected to supply only a small part of the global demand.
Why Apple Is Exploring US Chip Manufacturing
The discussions about Apple following several months of strategic moves at Intel under CEO Lip-Bu Tan, who took over after Pat Gelsinger's departure in December 2024, are notable.
- July 2025, Reuters reported that Tan was reworking Intel's foundry strategy to focus on the next-generation 14A process to attract outside customers
- August 2025, the US government acquired approximately a 10% stake in Intel through an $8.9 billion investment
- September 2025, Bloomberg reported that Intel had approached Apple about securing an investment and closer collaboration. Nvidia also invested $5 billion in Intel
- December 2025, analysts Ming-Chi Kuo and Jeff Pu suggested that Intel could start producing Apple-designed chips before the end of the decade, with Kuo indicating that base M-series chips for Macs and iPads could be available as early as 2027.
Intel’s Recent Rally, Strategic Moves, and Analyst Caution
Intel's stock increased by 114 percent in April 2026, marking its best single month on the Nasdaq in 55 years. The rise was linked to an expanded partnership with Google, Intel's plans to join Elon Musk's Terafab project, and the announcement that it would buy back the 49 percent stake it does not already own in its Fab 34 facility in Ireland for $14.2 billion.
Despite the recent rally, Wall Street remains cautious. The average analyst price target is $79.05, which is still below current trading levels, and most analysts are maintaining a hold rating. Intel's forward price-to-earnings ratio is 125, leaving little room for any issues with execution.
Technical indicators suggest the stock is overbought, and part of the recent increase has been linked to short-squeeze activity, which has been amplified on social media.
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