Intel’s stock reached a record high after a Bloomberg report said Apple has explored early-stage talks with Intel and Samsung Electronics about manufacturing future device chips, as the iPhone maker looks at ways to reduce its reliance on TSMC for production.
The report immediately pushed Intel shares higher during trading, with the stock climbing to $110.48 before closing at $108.18, giving the company a record market valuation of $543.71 billion. Investors continued buying the stock after hours, extending gains even further as Wall Street reacted to the possibility of Intel re-entering Apple’s supply chain years after losing Mac chip business to Apple Silicon.
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Bloomberg said Apple still has concerns around reliability and may not move forward with another manufacturing partner, but the report still added fresh momentum to Intel’s ongoing comeback story under CEO Lip-Bu Tan.
Intel’s recovery has accelerated throughout 2026 after the company struggled heavily over the past few years. The stock had dropped below $19 within the last year before rebounding sharply, helped by improving earnings, renewed CPU demand, and growing AI infrastructure spending beyond GPUs.
The company also gained investor confidence after the U.S. government acquired roughly a 10% stake in Intel in August 2025, while Tan pushed major operational changes after replacing interim co-CEOs David Zinsner and Michelle Johnston Holthaus following Pat Gelsinger’s departure.
Intel had already been adjusting its foundry strategy to attract customers like Apple and Nvidia, with more focus on its future 14A process technology.
Analysts Ming-Chi Kuo and Jeff Pu later suggested Intel could manufacture some Apple-designed chips later this decade, including entry-level M-series chips for Macs and iPads around 2027, followed by non-Pro iPhone chips in 2028.
For Intel, rebuilding ties with Apple would mark a major milestone after years of setbacks tied to delays that eventually pushed Apple to fully transition away from Intel processors in Macs.
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