"This is my quest
To follow that star
No matter how hopeless
No matter how far"

-- From "The Impossible Dream," by Joe Darion, 1965

Advanced Micro Devices (NYSE: AMD) was once locked out of No. 1 computer systems builder Dell (Nasdaq: DELL), but now Dell is one of AMD's largest customers. Will Apple (Nasdaq: AAPL) be the next big name to sing AMD's praises?

Apple rumormonger extraordinaire AppleInsider.com reports that AMD executives have been shuttling into Apple's Cupertino headquarters as if they were on a mission. The companies already have a working relationship since you can buy Mac systems with ATI graphics cards inside. In fact, AMD's ATI products are the high-end option over the standard NVIDIA (Nasdaq: NVDA) graphics chips in many Mac models.

But AppleInsider's unnamed sources claim that these discussions have focused on notebook and workstation/desktop processors -- not on fancier graphics chips. If true, that would be a major coup for AMD. Macs have featured Intel (Nasdaq: INTC) processors exclusively since the company announced a shift from IBM's (NYSE: IBM) PowerPC Processors in 2005.

Mind you, this is just a rumor at this point. Like I said, the companies already have reason to hobnob due to the graphics connection; their headquarters are just 5.5 miles apart if you cut through Ponderosa Park on Wolfe and Sunnyvale-Saratoga, so we're not talking cross-country schlepping; and AppleInsider's "people familiar with the matter" ring a bit less reliable than when The Wall Street Journal says the same thing.

However, I see a few reasons to believe this report. Apple is known to grab components from multiple sources wherever possible, pulling memory chips from suppliers like Samsung and Toshiba, graphics engines from NVIDIA and AMD division ATI, LCD screens from Samsung and LG Display (NYSE: LPL), and so on. Multi-sourcing the Mac's main processor would simply extend that strategy to another important component of the system -- and AMD is pretty much the only alternative to Intel. Finally, adding AMD to the mix could give Apple fresh leverage when talking chip prices with Intel. It all makes sense.

Cupertino just refreshed a few notebook models, and they're still built on Intel platforms. But I wouldn't be surprised to see the first AMD-powered Macbook or iMac unleashed in the next wave of Apple's product updates. Will Apple make a reality of AMD's impossible dream? Discuss in the comments below.

Fool contributor Anders Bylund owns shares in AMD, but he holds no other position in any of the companies discussed here. An eternal National Poetry Month is his own Impossible Dream. Intel is a Motley Fool Inside Value choice. Apple and NVIDIA are Motley Fool Stock Advisor recommendations. The Fool has created a covered strangle position on Intel. Motley Fool Options has recommended a buy calls position on Intel. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.