Apple and Intel Strike US Chip Manufacturing Deal

A Trump-brokered Apple-Intel chip manufacturing deal is a major US industrial policy moment, directly affecting semiconductor supply chains, iPhone prices for consumers, and the US-China tech rivalry. Intel’s 9% surge signals market significance.

The Morning Brief Desk · Thursday, June 18, 2026 · How the Brief is made

Sources: CNBC Top News, MarketWatch, TechCrunch

A White House-announced partnership between Apple and Intel to design and manufacture chips inside the United States could reshape the iPhone supply chain and deepen the US-China tech rivalry. President Trump revealed the deal Thursday, sending Intel shares up roughly 9% in premarket trading — a significant gain for a chipmaker that has spent years losing ground to rivals like TSMC and AMD.

The timing matters. Apple CEO Tim Cook recently called the company’s chip supply situation “unsustainable,” with a RAM shortage tied to AI demand threatening to push iPhone prices higher. Apple depends heavily on Taiwan-based TSMC. Moving production to Intel’s US foundries would change that. Details on which chips Intel will produce, and on what timeline, have not been disclosed. Analysts will be watching whether the deal survives contact with Intel’s still-maturing foundry business.

Sources

CNBC Top News
Intel surges 9% after Trump says company will partner with Apple on U.S. chip design
The boost continues Intel’s recent rally as the chipmaker bounces back from years of headwinds.
MarketWatch
Intel shares rally as Trump says company will build chips for Apple in the U.S.
Intel shares jumped in premarket trade on Thursday as President Donald Trump said the foundry will produce chips for Apple in the U.S.
TechCrunch
AI is hurting Apple in more ways than one: it may force iPhone price increases
CEO Tim Cook said in a recent interview that the situation is ‘unsustainable,’ as Apple faces a RAM shortage driving up costs.

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