Intel Shares rose as much as 15 percent on Tuesday to hit an all-time high of $110.48 before closing at $108.18. The increase followed a Bloomberg report that Apple is in early talks with Intel and Samsung Electronics about manufacturing its main device processors in the United States. This move is aimed at reducing Apple’s dependence on Taiwan Semiconductor Manufacturing Company, its longtime exclusive chip maker.
At the close, Intel’s market capitalization reached a record 543.71 billion dollarsand after-hours operations added another 4.76 percent. The stock is up more than 174 percent in 2026 and about 433 percent year over year, rebounding from a 52-week low of $18.96.
Both Samsung, Appleand TSMC declined to comment on the report.
What Bloomberg reported about Apple’s chip talks
According to Bloomberg, Apple executives directly discussed foundry services with Intel and visited a Samsung facility in Texas that is under development to produce advanced chips. The report notes that these discussions are still in the early stages and no firm orders have been made. Apple could choose not to move forward with any manufacturing partners outside of TSMC.
Apple currently relies on TSMC’s 3-nanometer process for 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 would normally have,” citing chip shortages that have affected 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 portion of global demand.
Why Apple is exploring chip manufacturing in the US
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 2025Reuters reported that Tan was reworking Intel’s foundry strategy to focus on the next-generation 14A process to attract external customers.
- August 2025US government acquired approximately 10% stake in Intel through $8.9 billion investment
- September 2025Bloomberg reported that Intel had approached Apple to secure investment and closer collaboration. Nvidia also invested $5 billion in Intel
- December 2025Analysts Ming-Chi Kuo and Jeff Pu suggested that Intel could begin producing Apple-designed chips before the end of the decade, and Kuo indicated that entry-level M-series chips for Macs and iPads could be available as early as 2027.
Intel’s recent rally, its strategic moves and analyst caution
Intel shares rose 114 percent in April 2026, marking its best month on the Nasdaq in 55 years. The increase was related 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 maintain a Hold rating. Intel’s forward P/E ratio is 125, leaving little room for execution issues.
Technical indicators suggest the stock is overbought and some of the recent rise has been related to short squeeze activity, which has been amplified on social media.
