Shares of Intel (INTC +8.55%) gained on Tuesday, finishing the day up 8.7%. The rise came as the S&P 500 and the Nasdaq Composite jumped 0.2% and 0.5%, respectively.
Intel's stock continued to climb today, driven by Friday's unconfirmed report that the chipmaker is set to begin manufacturing semiconductors for Apple's MacBook Air and iPad Pro.
NASDAQ: INTC
Key Data Points
Intel could be partnering with Apple
On Friday, TF International analyst Ming-Chi Kuo claimed on X that Intel will supply Apple with its lower-end M processors, which power the iPad Pro and MacBook Air. The first shipments are expected as early as the second quarter of 2027.
If the report is confirmed, it would be a massive win for the embattled chipmaker. Intel once dominated the semiconductor industry with its efficient CPUs, but it has fallen behind in the era of artificial intelligence (AI), a technology that is powered primarily by GPUs. A vote of confidence from Apple would go a long way in aiding the company's turnaround efforts.
Image source: Getty Images.
Intel has a rocky road ahead
Even if the report is proven to be true, Intel would still be in a difficult position. The company's workforce has been reduced dramatically, and much of its key talent has jumped ship. That being said, I believe it will be able to turn the ship around and succeed in the long run.
