Intel got the kind of day most turnaround stories dream about. President Donald Trump posted on Truth Social that Apple has agreed to work with Intel to design and build chips in America, and the market responded accordingly. Intel shares surged as much as 10-12% intraday on June 18, with one estimate pegging the gain at $12.72, pushing the stock to roughly $133.82.
The deal, the post, and the rally
Trump’s exact words on Truth Social: “Apple has agreed to work with Intel to design and build its Chips in America.”
Neither Apple nor Intel has confirmed the specific details of any agreement. What we appear to have is an announcement of intent, the kind of handshake-phase collaboration that could mean anything from a multi-billion-dollar foundry contract to a vaguely worded memorandum of understanding.
Washington’s semiconductor bet gets bigger
