Intel Stock Soared After Trump Said Apple Will Build Chips With It. Is It a Buy?
A single presidential social-media post sent the chipmaker's shares higher. But neither company has confirmed it.
Intel Stock Soared After Trump Said Apple Will Build Chips With It. Is It a Buy?
Overview
Shares of chipmaker Intel (NASDAQ: INTC) jumped about 11% on Thursday, as of this writing, after President Donald Trump wrote on Truth Social that Apple (NASDAQ: AAPL) "has agreed to work with Intel to design and build its Chips in America." It was the latest jolt for a stock that has soared more than 500% over the past year, lifting Intel's market value past $670 billion.
So far, though, neither Apple nor Intel has confirmed the arrangement, and no terms have been disclosed. That leaves investors with two questions instead of one: whether an Apple foundry win would move the needle, and whether there's a deal at all -- or just a post.
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Originally published at www.fool.com.
