Intel surges 9%: Trump says Apple will build US chips
- Source
- CNBC
- Time
- 9:08 AM
- Weight
- 94/100
Intel shares surged approximately 9% in premarket trading on Thursday following a social media post from President Donald Trump. In a post on Truth Social, the President stated that Intel and Apple have reached an agreement to design and manufacture semiconductor chips within the United States.
While Intel's stock has faced challenges in recent years due to shifting market dynamics, the company has seen a significant recovery over the last 12 months, with its market capitalization rising to more than $600 billion. The reported partnership is framed as a move to reclaim semiconductor manufacturing from international competitors.