Intel Surges 10.64% After Trump Announces Apple Chip Deal on June 18

According to Semafor, President Trump announced on June 18 that Apple agreed to partner with Intel on U.S. chip design and manufacturing. The announcement drove Intel stock up 10.64% to $133.99, with the Philadelphia Semiconductor Index climbing over 6.7% to a new all-time high.

However, sources told Semafor that some Intel executives were unaware of Trump's announcement before it was posted, expressing surprise at the president's statement. While Apple and Intel have been discussing domestic manufacturing collaboration for several months, the actual deal status remains unconfirmed, and the companies have not disclosed which chip products would be involved.