Intel’s Stock Pops as Rumors Swirl About a Big New Customer

Could Intel be closer to scoring a deal with iPhone maker Apple?

The chipmaker’s shares surged Friday as an analyst added fuel to rumors that the iPhone maker could become a new customer for the chipmaker. Shares of Intel (INTC) popped over 10% during Friday’s shortened trading session to lead gains on the S&P 500 and Nasdaq. (Read Investopedia’s daily markets coverage here.) 

The likelihood of Apple (AAPL) becoming a new customer for Intel “has recently improved significantly,” TF International Securities analyst Ming-Chi Kuo, citing industry surveys, posted on X Friday, suggesting that Intel could start shipping Apple processors as soon as 2027.

Apple and Intel did not respond to Investopedia’s requests for comment in time for publication.

Shares of Intel have roughly doubled in value this year after a flurry of recent deals, including a partnership with AI chip leader Nvidia (NVDA). Still, they remain well off their historical highs as the company is still working to convince investors regarding a sustainable turnaround in its business.

One of those challenges continues to be securing new customers for its manufacturing operation. The deal with Nvidia did not include commitments to Intel’s foundry, raising speculation about whether the relationship could expand later or if the lack of foundry commitments could point to troubles convincing customers.

A deal with former Intel customer Apple could go a long way in helping assuage those concerns. Shares of Apple rose a bit less than 0.5% on Friday.