Shares in Intel rose more than 10% on Friday, driven by forecasts from TF International Securities analyst Ming-Chi Kuo, who flagged a possible deal with Apple to manufacture an entry-level chip from 2027. According to Kuo, Intel could deliver this component as early as Q2 or Q3 2027, pending the release of its technical design kit expected in early 2026. Such a partnership would mark a turning point for Intel, whose foundry arm is seeking to establish itself against rivals such as TSMC.

This agreement, which has not yet been confirmed, would strengthen Intel's positioning as a strategic supplier and could send a strong signal to other potential customers. Apple currently relies almost exclusively on TSMC to produce the chips used in its iPhones, iPads and Macs. The contract mentioned by Kuo would cover only a low-power chip, without immediately calling into question the Taiwanese foundry's dominance.

Beyond the technological stakes, any such tie-up would also have a political dimension, in line with US efforts to reshore manufacturing. Intel, whose share price has recovered after hitting a low in April, could use this partnership to secure more ambitious contracts. The development comes as Intel is also facing a complaint from TSMC, which accuses it of benefiting from leaks of confidential information via a former executive.