Intel shares leap after Trump announces chip deal with Apple
Summary
Intel’s stock price rose sharply after President Donald Trump announced that Intel will work with Apple to design and make computer chips in the United States. The U.S. government owns 10% of Intel, and this deal could help Apple rely less on overseas chip suppliers.Key Facts
- Intel’s stock rose 10.5%, increasing by $12.72 to $133.82 after the announcement.
- President Trump posted on social media about the Intel and Apple chip deal.
- The U.S. government owns a 10% stake in Intel, making it the largest shareholder.
- The value of Intel has grown from about $100 billion in August to roughly $600 billion today.
- Apple aims to reduce dependence on Taiwan Semiconductor Manufacturing Company (TSMC), its main overseas chip supplier.
- Apple has been diversifying its supply chain to countries like Vietnam, India, and the U.S.
- Intel declined to comment specifically on the Apple deal, and Apple did not immediately respond.
- Rising chip prices are causing Apple to plan product price increases to cover higher costs.
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