Micron Stock Surges Following Apple-Intel Partnership Announcement
Micron Technology (NASDAQ: MU) shares increased 7.7% by 10:40 a.m. ET on Thursday, following President Trump’s announcement of a partnership between Apple (NASDAQ: AAPL) and Intel (NASDAQ: INTC). Intel will manufacture semiconductor chips for Apple, resulting in a boost for both companies’ stocks, with Apple gaining over 1% and Intel up more than 7%.
In this partnership, Apple will design the new chips, which will be produced in U.S. factories, reversing previous offshoring trends in semiconductor production. This initiative aligns with Intel’s collaboration with other firms, like Tesla and SpaceX, to enhance domestic semiconductor manufacturing. Over the past year, Micron’s stock has soared 744%, underscoring its perceived importance in the AI revolution, as its memory chips are crucial for AI applications.
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