Apple has agreed to work with Intel to design and manufacture chips in the United States, according to remarks from President Donald Trump that several outlets reported this week.
Trump framed the arrangement as a major win for U.S. manufacturing, per Yahoo Finance. The same report describes the deal as signaling a potential shift of some of Apple's processor work toward domestic production.
Investors reacted quickly. According to Memeburn, Intel's stock jumped 10% after Trump announced the deal. Yahoo Finance reported Intel (INTC) shares up 7.6% on news of the prospective foundry partnership. The two figures come from different sources covering the same move in Intel's stock.
The coverage centers on Intel acting as a foundry — the company that actually fabricates chips — for Apple, with both chip design and manufacturing happening in the U.S. Reporting from eciks.org and Yahoo Finance both describe the partnership in those terms.
Multiple outlets, including Memeburn, raised the question of what the tie-up could mean for the products people actually buy, namely iPhones and Macs, as well as for TSMC, the Taiwanese manufacturer long associated with cutting-edge chip production.
It's worth noting the deal is described in the sources largely through Trump's announcement, with some coverage calling the foundry partnership prospective rather than finalized.
Why it matters: where the chips inside Apple's most popular devices get made is both an economic and a geopolitical question, and a shift toward U.S. manufacturing with Intel would mark a notable change from the status quo.