Intel’s deal to produce Apple-designed semiconductors domestically sparks rally in chip stocks, led by Sandisk’s 10.7% gain.
Sandisk (NASDAQ: SNDK) jumped 10.7% Thursday after President Trump announced a partnership between Apple (NASDAQ: AAPL) and Intel (NASDAQ: INTC) to manufacture semiconductors in the U.S. Intel will produce Apple-designed chips, reversing long-standing offshoring trends.
The move aligns with broader efforts to reshore semiconductor production, including Intel’s collaborations with SpaceX and Tesla. Intel shares rose 9.5%, while Apple gained nearly 1% on the news. Sandisk’s rally reflects investor optimism about its role in AI-driven demand for memory chips.
The announcement follows Intel’s 475% gain over the past year, underscoring the sector’s growth potential as AI adoption accelerates.