Intel shares jumped approximately 14% on Friday, followed by an additional 6% gain in premarket trading Monday, reaching $130.13.
A preliminary chip manufacturing agreement between Apple and Intel was reached, with support from the U.S. government playing a facilitating role.
Separate reports indicate Intel is negotiating with SK Hynix regarding chip-packaging solutions, which could establish a second major foundry partnership.
Following the conversion of $9 billion in federal grants to equity, the U.S. government now owns approximately 10% of Intel.
First-quarter results significantly exceeded projections adjusted EPS reached $0.29 compared to the $0.01 estimate, while revenue totaled $13.58B against a $12.42B forecast.
Intel (INTC) Stock Rockets 14% After Apple Partnership and SK Hynix Negotiations Surface
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