Intel just got another sign that its comeback story is working. The company’s stock hit a record high after Bloomberg reported that Apple had explored early talks with Intel and reviewed Samsung Electronics facilities as possible manufacturing options for future device chips. Apple still relies heavily on TSMC for its core silicon, but the report suggests it is at least testing ways to reduce that dependence.
The talks are early, and Apple may still walk away. Bloomberg noted that Apple has reliability concerns and may not choose another partner. But the possibility was enough to send Intel shares as high as $110.48 before closing at $108.18, giving the company a record market cap of $543.71 billion.
That move caps a dramatic rebound. Intel fell as low as $18.96 over the past year, but the stock is now up 174 percent in 2026 and 433 percent from a year ago. After-hours trading added another 4.76 percent.
Apple would be Intel’s biggest credibility test
A new Apple deal would matter because of the history between the two companies. Apple moved the Mac away from Intel after years of chip delays and missed roadmap targets. If Intel can win back even part of Apple’s chip manufacturing, it would be one of the clearest signs yet that its foundry push is gaining credibility.
That push has become central to CEO Lip-Bu Tan’s turnaround plan. Since taking over after Pat Gelsinger’s departure, Tan has been trying to refocus Intel around stronger execution, outside manufacturing customers, and next-generation process technology. Reuters previously reported that Intel was shifting more attention toward its 14A process as it tried to compete for major customers like Apple and Nvidia.
Apple has already been linked to Intel’s future foundry plans. Analysts Ming-Chi Kuo and Jeff Pu have suggested Intel could produce some Apple-designed chips later this decade, including base M-series chips for Macs and iPads as soon as 2027 and non-Pro iPhone chips in 2028. Bloomberg also reported earlier that Intel approached Apple about a possible investment and broader cooperation.
None of this means Apple is ready to leave TSMC. TSMC remains Apple’s most important chip partner, and Intel still has to prove it can meet Apple’s manufacturing standards. But the market is reacting to the direction of travel: Intel is no longer being treated only as a struggling legacy chipmaker.
For Tan, even serious consideration from Apple strengthens the turnaround narrative. Intel has returned to revenue growth, topped Wall Street expectations, and benefited from renewed CPU demand as AI infrastructure spending expands beyond GPUs. A real Apple manufacturing deal would turn that story into something much harder to dismiss.
