Intel Stock Soars on Apple Partnership News
Intel’s shares skyrocketed 14% to an all-time high after a Bloomberg report suggested Apple is considering a chip manufacturing partnership with Intel and Samsung in the U.S. This surge contributed to a 1.3% increase in the Nasdaq-100 and an 0.8% rise in the S&P 500.
The potential collaboration is significant as Apple’s processors are primarily manufactured in Taiwan and China. Moving production to the U.S. could reduce tariff costs for Apple and boost Intel’s Foundry business. Today’s surge follows Intel’s impressive recovery, where it gained 114% in April.
Additionally, Micron Technology’s stock rose 11.4% after announcing the shipment of a 245-terabyte solid-state drive designed for data centers, signifying ongoing momentum in the semiconductor sector amidst geopolitical tensions in the Strait of Hormuz.
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