Apple to Use Intel 3-14A Nodes for Chips by 2027-28; Pelosi Buys $5M INTC Calls
INTC has more than doubled off its 52-week low of $18.965.
Summary
Intel has secured a significant manufacturing deal with Apple, set to produce chips on Intel 3 to 14A nodes with volume production beginning in late 2027-early 2028 and extending into 2029. This provides crucial details to the previously reported Apple agreement from May 8th, solidifying a major long-term revenue stream for Intel's foundry business. Separately, Nancy Pelosi disclosed a purchase of 200 Intel call option contracts, valued up to $5 million, signaling strong investor confidence.
At the time of this announcement, INTC was trading at $138.69 on NASDAQ in the Technology sector, with a market capitalization of approximately $661.7B. The 52-week trading range was $18.97 to $141.45. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.