Shares of Intel (INTC 5.03%) rose on Monday, furthering the chipmaker's recent rally.
By the close of trading, Intel's stock price was up about 5%.
Image source: Intel.
Rumors are swirling
Apple (AAPL 2.22%) is reportedly considering a partnership with Intel. The iPhone maker may look to the semiconductor giant to manufacture its custom-designed chips.
Such a deal would be a boon for Intel's fledgling foundry business. Apple would be a marquee client that would instantly lend credibility and much-needed financial support to Intel's chip manufacturing operations. Aligning with Apple could thus jump-start Intel's customer acquisition efforts, and investors would no doubt celebrate the news.
NASDAQ: INTC
Key Data Points
Insider buying could be a bullish signal
Intel's stock price gains were likely also propelled by news of share purchases by one of its senior executives. Chief financial officer David Zinsner bought 5,882 shares of Intel at an average price of $42.50 per share on Jan. 26, according to a recent regulatory filing.
It's said that executives sell for many reasons, but they tend to buy for only one: they think the stock's price is headed higher. Investors are thus understandably viewing Zinsner's roughly $250,000 purchase as a sign that he's optimistic about Intel's prospects.
