INTEL SHARES RISE AS TRUMP ANNOUNCES APPLE CHIP PARTNERSHIP

Intel shares rose in premarket trading on Thursday following an announcement by President Donald Trump that the chipmaker will produce chips for Apple in the United States. According to MarketWatch, Trump stated that Intel's foundry operation will manufacture the chips domestically. CNBC reported that Intel's share price increased by 9 per cent following the announcement of the partnership between Intel and Apple on U.S. chip design.

The rally represents a continuation of Intel's recent upward momentum, according to CNBC. The chipmaker has experienced significant headwinds over recent years, and the reported partnership marks a notable development for the company. The announcement comes as Intel seeks to establish itself as a major foundry operator competing in the semiconductor manufacturing sector.

The specific terms of the Apple partnership and the timeline for chip production remain unclear from the available information. No statement from Apple or Intel confirming the partnership details has been reported. The companies have not yet provided official comment on the scope or duration of the arrangement announced by President Trump.