President Trump announces Apple-Intel partnership to produce semiconductors domestically, boosting Micron and Intel stocks.
Micron (NASDAQ: MU) stock climbed 7.7% by 10:40 a.m. ET Thursday after President Trump revealed a partnership between Apple (NASDAQ: AAPL) and Intel (NASDAQ: INTC) to manufacture semiconductor chips in the U.S. Apple shares rose over 1%, while Intel gained more than 7%.
The deal reverses decades of offshoring policies, aiming to reshore semiconductor production. Intel will collaborate with Apple, SpaceX (NASDAQ: SPCX), and Tesla (NASDAQ: TSLA) to produce AI chips and other semiconductors at domestic facilities.
Investors view Micron as a key beneficiary, given its role in supplying memory chips essential for AI inference functions. Intel’s stock has surged 475% over the past year amid AI-driven demand.