Intel stock reached an all-time high of $135.32 on June 18, 2026, surging more than 10% after President Trump announced that Apple had agreed to partner with Intel to design and manufacture chips in the United States, marking the chipmaker’s biggest external foundry win and a major validation of its turnaround strategy.
The preliminary agreement between Apple and Intel, first reported by the Wall Street Journal in May 2026, became public when Trump announced it on Truth Social on June 18. Intel’s stock shot up by 10.8%, increasing by $13.09 to reach $134.19 in response to the announcement, according to RTTNews. The deal represents a historic shift for both companies: Apple is diversifying away from its heavy reliance on Taiwan Semiconductor Manufacturing Company (TSMC), while Intel gains a high-profile customer for its foundry division after years of struggling to convince major clients to use its manufacturing services.
Intel’s foundry division has been the centerpiece of the company’s comeback strategy under CEO Lip-Bu Tan. For years, the division struggled to compete with TSMC on yield and reliability, making it difficult to land major customers. The Apple partnership validates that Intel’s 18A and 18A-P process technologies have reached sufficient maturity to meet Apple’s exacting standards, according to sources including Intellectia AI and TechPowerUp. This endorsement from the world’s largest chip designer carries enormous weight in the semiconductor industry, as it signals to other potential customers that Intel is a viable alternative to TSMC.
The stock surge reflects investor confidence that Intel’s foundry strategy is working. Intel stock is up approximately 260% year-to-date as of late June 2026, making it one of the defining turnarounds of 2026, according to TIKR. The Apple deal pushed the stock to record levels, with the closing price of $133.99 on June 18 marking the highest end-of-day price in Intel’s history, per Companies Market Cap and Macrotrends data.
The partnership also carries strategic weight beyond the semiconductor industry. The U.S. government’s $9 billion grant to Intel, mentioned in Wall Street Journal reporting, played a role in bringing Apple to the table. The deal reflects broader efforts to strengthen domestic chip manufacturing and reduce reliance on Asian suppliers, a priority for both the Trump administration and major U.S. technology companies concerned about supply chain resilience.
What the Deal Means for Intel’s Future
Analysts cautioned that the Apple deal may start small, with initial production potentially limited to lower-end chips, according to MarketWatch reporting. However, the agreement represents a crucial proof point for Intel’s foundry business. Once Apple begins using Intel’s manufacturing services, other major customers may follow, emboldened by Apple’s confidence in the chipmaker’s capabilities. This could transform Intel from a company struggling to find foundry customers into a major contract manufacturer competing directly with TSMC and Samsung.
For Apple, the deal diversifies its supply chain at a time when geopolitical tensions and supply chain disruptions are growing concerns. By adding Intel as a manufacturing partner, Apple reduces its dependence on any single foundry and strengthens its negotiating position with TSMC, its primary chip supplier. The agreement also aligns Apple with U.S. government efforts to boost domestic semiconductor production, which may provide regulatory or financial benefits.
Sources
- Wall Street Journal — Preliminary Apple-Intel chip-making agreement announced May 8, 2026; Trump announcement of partnership June 18, 2026
- Reuters — Trump’s announcement that Apple agreed to work with Intel to design and manufacture chips in the U.S. on June 18, 2026
- RTTNews — Intel stock surge of 10.8% to $134.19 on June 18, 2026 following Trump’s announcement
- Macrotrends — All-time high Intel closing price of $133.99 on June 18, 2026
- LiteFinance — Intel all-time high of $135.32 on June 18, 2026
- Companies Market Cap — Highest end-of-day price of $133.99 on June 18, 2026
- TIKR — Intel stock up approximately 260% year-to-date as of late June 2026
- Intellectia AI — Intel’s 18A process technology reached sufficient maturity to meet Apple’s standards
- Yole Group — Partnership marks Intel’s biggest external foundry win and major test of U.S.-backed semiconductor strategy
- Seeking Alpha — Apple deal validates Intel as viable TSMC alternative
- MarketWatch — Analysts say new Apple chip deal might start small
