Apple, Intel to Design, Produce Chips in U.S.; Intel Stock Hits Record High, Up 10.64% on June 18

According to President Trump on June 19, Apple has agreed to collaborate with Intel on designing and manufacturing chips in the United States, boosting Intel's foundry business and strengthening U.S. semiconductor supply chain localization. Trump announced the partnership on Truth Social, though specific chip types were not disclosed. Intel stock surged 10.64% on June 18 to reach an all-time high, with gains exceeding 300% year-to-date. Apple shares rose 0.7% following the announcement. The Wall Street Journal reported in May that the two companies had reached preliminary agreement on chip production after over a year of negotiations.
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