Intel Stock Surges 10.64% After Trump Announces Apple Chip Deal on June 18

According to Semafor, President Trump announced on June 18 that Apple has agreed to work with Intel on designing and manufacturing chips in the United States. The announcement sent Intel stock soaring 10.64% to close at $133.99, while the Philadelphia Semiconductor Index climbed over 6.7% to hit a record high.

However, sources told Semafor that some Intel executives were unaware of Trump's announcement beforehand and expressed surprise at the disclosure. Apple and Intel have been discussing domestic manufacturing collaboration for months, but the deal's current status remains unconfirmed, and neither company has officially announced partnership details.