According to a report by The Wall Street Journal citing sources familiar with the matter, Apple and Intel have reached a preliminary agreement under which Intel will manufacture chips for some Apple devices.
Reports indicate that intensive negotiations between Apple and Intel have been ongoing for over a year, with the two sides finalizing a formal agreement in recent months.
Following the news, Apple’s stock price rose by approximately 2%; Intel’s stock price gains further expanded, reaching a maximum increase of 18% as of the time of this report.
It is currently unclear which specific Apple products Intel will manufacture chips for.
