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Apple and Intel are reportedly closing in on a deal that would see Intel make some of the chips for the iPhone maker’s devices, marking a major shift in the chipmaking landscape.
Talks between the two companies have been brewing for more than a year, with a preliminary agreement reached in recent months, the Wall Street Journal reported Friday, citing people familiar with the matter.
Intel shares soared nearly 14% on Friday. Apple shares added 2%. Both companies declined to comment.
“I 100% believe this is going to happen. I don’t know when,” chip analyst Ben Bajarin of Creative Strategies said in an interview.
