Topline
Intel shares spiked over 10% on Friday, hitting their highest point in a month after an analyst report said the odds of a chip partnership between the company and Apple “has recently improved significantly.”
Intel shares nearly reached their highest point of the year on Friday.
Photo by Andrej Sokolow/picture alliance via Getty Images
Key Facts
Intel’s stock closed up 10.3% at $40.56, nearly reaching its highest closing price in well over a year.
TF International Securities analyst Ming-Chi Kuo said in a statement Friday morning his latest industry surveys “indicate that visibility on Intel becoming an advanced-node supplier to Apple has recently improved significantly.”
Kuo said Apple plans to use Intel to ship its lowest-end M processor, Apple’s proprietary chip used in MacBook Airs and iPad Pros.
Kuo noted Intel will still trail behind chip competitor Taiwan Semiconductor Manufacturing Company in the coming years, but a deal with Apple and other “tier-one customers” could make Intel’s long-term outlook “more positive.”
Big Number
102.3%. That is how much Intel shares have climbed since January, when the chipmaker’s stock traded around the $20.22 mark, a little more than half what they are worth today.
This is a developing story. Check back for updates.
