Intel gains after Trump says Apple agreed to make US chips
BUZZ-Intel gains after Trump says Apple agreed to make US chips
** Shares of Intel INTC.O rise 7.24% to $129.87 in premarket trading
** US President Trump said on Thursday in a Truth Social post that Apple AAPL.O has agreed to work with the company to design and manufacture chips in the United States
** A partnership with Apple helps diversify its manufacturing base away from TSMC 2330.TW, while giving co a major customer to boost its foundry business
** Apple and Intel did not immediately respond to a Reuters' request for comments outside regular business hours
** 13 of 48 brokerages rate the stock "Buy" or higher, 32 "Hold" and 3 "Sell"; their median PT is $89.4 - data compiled by LSEG
** As of last day's close, stock has more than tripled year-to-date, compared to a 12.0% rise for the Nasdaq .IXIC
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))
Recent news on Intel
See all newsWall St Week Ahead-Investors see Micron earnings as pulse check of AI rally momentum
Brief: Intel Announces Leadership Appointment At Intel Foundry To Accelerate Development And Manufacturing
Intel taps industry veteran Seok-Hee Lee to lead foundry packaging push
US STOCKS-Wall St indexes advance with boost from chips, Iran optimism
US stocks weekly: Recovery