INTC News & Events

Evercore ISI analyst Amit Daryanani notes that The Wall Street Journal reported that Apple (AAPL) has reached a preliminary agreement for Intel (INTC) to manufacture some of the chips that power the company's devices. Such an agreement, should one be announced, would be a strategic positive for Apple that would improve its long-term supply-chain resilience and give Apple more flexibility as leading-edge capacity tightens, says the analyst, who keeps an Outperform rating and $330 price target on Apple shares.

Apple (AAPL) and Intel (INTC) have struck a preliminary deal for Intel to manufacture some of the semiconductors that power Apple's products, the Wall Street Journal's Robbie Whelan and Rolfe Winkler report, citing people familiar with the matter. Intensive negotiations between the two parties have been ongoing for over a year, and they hammered out a formal agreement in recent months, though it's still unclear which Apple devices Intel would make chips for, the authors note.