Trump Claims Apple-Intel Deal for Chips in the U.S., Intel's Stock Soars 10.5%
A post on Truth Social by the president states that Apple has agreed to work with Intel on chips manufactured in the U.S. Neither Apple nor Intel confirm the claim. Intel's shares hit record highs.
Donald Trump posted on June 18, on Truth Social, that "Apple has agreed to work with Intel to design and build its chips in America." Within seconds, Intel's stock shot up: it opened trading with an increase of over 10.5%, reaching $133.82 and hitting an all-time high of $135.48 during the day, according to quotes compiled by CNBC. The Philadelphia Semiconductor Index rose 6.3% to a record high, the S&P 500 gained 1%, and the Nasdaq 100 closed up 2.3%.
Intel is now valued at around $672 billion, with an increase of over 250% predicted by 2026. However, Apple and Intel have not confirmed the agreement. Intel stated that it does not comment on "a potential Apple-Intel agreement". Apple did not respond to requests for comment by the time this article was published.
The Story Before the Tweet
The Wall Street Journal reported in May on the preliminary outline of an arrangement between the two companies, following over a year of discussions. The scope described then was specific: Intel would produce older or second-tier Apple processors, possibly M-series chips intended for the iPad Pro and MacBook Air. The iPhone 18 Pro Max, according to that report, would remain beyond Intel's factory reach.
What changed on June 18 was the form of the statement, not the substance. Trump gave the agreement a presidential stamp on social media, without details on timeline, volume, or manufacturing nodes. Intel is in the midst of the federal Chips Act program, having received an $11.1 billion stake from the U.S. government in August 2025 and has anchor clients like Microsoft and Amazon contracted at 18A, the node that is set to compete with TSMC's N2. Adding Apple to the list of "clients" before the official PR of the companies is a calculated political move, not a done deal.
What C-Level Executives Should Consider Before Company Announcements
For a CIO in Brazil, Mexico, Poland, or India, the news has three levels of interpretation. At the first level, the corporate PC and tablet supply chain, nothing changes: machines with Apple chips for the executive fleet will continue to come from Taiwan in the current chain. At the second level, the strategic level, the thesis becomes clearer: Intel Foundry has begun to have a narrative that extends beyond factories in Ohio and Arizona, and having a high-profile client on the list matters to any supplier negotiating post-2027 capacity with Intel.
At the third level, the execution risk level, the signal is one of caution. Intel has yet to deliver significant volumes at the 18A node in commercial production. Apple, known for requiring yields above 90% before moving chips, has never switched suppliers for political reasons. If the preliminary WSJ report is confirmed, talking about "building iPhone chips in America" will be inaccurate for years. Today's effect is a rally based on headlines, not on contracted volumes.
Why Brazil and Germany Are Relevant
For Brasília, with the Law of Good in force and the MDIC program for the national semiconductor chain, the episode is a reminder of how dependent the final design of the global chain is on American geopolitics. For Berlin, which is paying a multibillion-dollar subsidy to Intel for the Magdeburg factory, the success of the American operation is a direct input to European viability. A presidential stamp on social media does not change either calculation, but it serves as a barometer of how much Washington is willing to use Intel as an industrial policy tool.
The lingering question for Intel's next earnings conference, scheduled for the end of July, is whether the CEO will detail Apple volumes or continue with the "continuous engagement" narrative, which aligns with the public silence of both companies today.