Lam Research and semiconductor equipment manufacturers rallied following a Truth Social post by President Donald Trump. The announcement revealed that Apple will partner with Intel to manufacture chips within the United States.
Intel shares climbed more than 9% on the news. Lam Research stock rose approximately 6% during the sector-wide surge.
Investors expect the domestic manufacturing shift to increase orders for wafer fabrication equipment. This partnership benefits suppliers like Lam Research and Applied Materials while supporting U.S. semiconductor reshoring efforts.