INTC is trading at $124.13 (+13.2%) as of midday May 8, 2026, hitting a new all-time high after a report that Apple is in discussions with Intel for chip manufacturing.
- Primary Catalyst: The surge followed a Bloomberg report that Apple is in early discussions with Intel about manufacturing its main device processors in the United States, aiming to reduce reliance on Taiwan Semiconductor Manufacturing Company.
- Sector Momentum: The move is also supported by a broader semiconductor rally, fueled by strong AI demand and positive earnings from peers like AMD and SMCI earlier in the week.
- Market Context: The broader market is also positive, with the NASDAQ up approximately 1.3% and the S&P 500 up 0.7%.