Apple Inc. and Intel Corp. have reached a preliminary agreement for Intel to produce some of the chips in Apple devices, The Wall Street Journal reported on Friday, citing people familiar with the matter.
The iPhone maker and the US chip giant have held intensive talks for over a year and finalized a formal framework in recent months. It remains unclear which Apple products would use Intel-made chips. On Tuesday, reports on Apple approaching both Intel and Samsung about potential chip production caused Intel's stock to jump 10%.
Intel's shares skyrocketed 18.26% to sell at $129.64 apiece at 1:04 pm ET. Meanwhile, Apple increased 1.59% to $292 at the same time.
https://breakingthenews.net/Article/Apple-Intel-said-to-reach-preliminary-chip-deal/66256152
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