Intel stock hit a record high today following a Bloomberg report that claimed Apple was exploring Intel and Samsung Electronics as potential manufacturing partners for future device chips. Here are the details.
Intel hits record valuation
Last night, Bloomberg reported that Apple had explored preliminary discussions with Intel and evaluated Samsung Electronics facilities in an effort to diversify production of its core chips beyond TSMC.
The report noted that while Apple had reliability issues and “may not move forward with another partner,” it was enough to make Intel’s stock cry.
Intel stock rose as high as $110.48 during today’s session, marking an all-time high, before closing at $108.18 with a record market cap of $543.71 billion.
Today’s gains continue what has been a remarkable comeback for Intel. After falling as low as $18.96 over the past year, the stock is now up 174% in 2026 and 433% over the last year, with after-hours trading adding another 4.76%.
Much of these gains came after the U.S. government announced a deal to acquire a roughly 10% stake in the company on August 22, 2025.
In addition to his deal with Trump, Tan has overseen a major reversal in Intel’s business dynamics since replacing interim co-CEOs David Zinsner and Michelle Johnston Holthaus, who led the company following the departure of former CEO Pat Gelsinger in December 2024.
In the meantime, the company returned to revenue growth, beat Wall Street expectations and benefited from renewed demand for its core CPU business, particularly as spending on AI infrastructure began to expand beyond GPUs.
As for its relationship with Apple, rekindling a partnership would be another feather in Tan’s cap, since Apple abandoned Intel following roadmap delays and missed deadlines that affected the Mac business.
Last July, Reuters reported that Tan was already exploring a shift in Intel’s foundry strategy aimed at making the company more competitive for major outside customers like Apple and Nvidia, including focusing more resources on its next-generation 14A process rather than trying to win new customers with 18A.
A few months later, analysts Ming-Chi Kuo and Jeff Pu both suggested that Intel could begin producing Apple-designed chips later in the decade, with Kuo pointing to basic M-series chips for Macs and iPads as early as 2027, and Pu saying non-Pro iPhone chips made by Intel could follow in 2028.
This, in turn, came after Bloomberg reported that Intel had contacted Apple about an investment in the company, while the two companies also discussed ways to work more closely together as Intel attempted to continue its comeback story. Extract from the report:
Intel Corp. has approached Apple Inc. for an investment in the struggling chipmaker, according to people familiar with the matter, as part of efforts to strengthen a company now partially owned by the U.S. government.
Apple and Intel also discussed how to work more closely together, said the sources, who asked not to be identified because the deliberations are private. The talks are in their early stages and may not result in an agreement, the sources said.
That said, while this week’s report doesn’t go into technical detail about the exploratory discussions between Apple and Intel, the market appears to have found this possibility compelling enough to factor it into Intel’s valuation, especially given how much Tan has managed to accomplish in his first year on the job.
What do you think about the possibility of Apple and Intel working together again? Let us know in the comments.
To discover on Amazon
FTC: We use automatic, revenue-generating affiliate links. More.