Intel stock hits fourth straight record high as Apple report fuels chip rally

What happened: Intel (INTC) banal jumped astir 15% Friday, putting it connected way for its champion time since April 24, aft the Wall Street Journal reported that Apple (AAPL) and Intel reached a preliminary chip-making agreement.

What’s down the move: The study says Intel would manufacture immoderate chips for Apple devices, though it is inactive unclear which products. That gives investors a caller crushed to stake connected Intel’s foundry turnaround.

By the numbers: Intel deed its 4th consecutive intraday grounds precocious Friday. The determination besides came successful a immense league for spot stocks, with Intel, Micron (MU), and Nvidia (NVDA) each nearing $100 cardinal successful market-value gains connected the day.

Broadcom (AVGO) and AMD (AMD) are besides rallying, putting the apical spot gainers connected way to adhd good implicit $400 cardinal successful marketplace worth Friday.

What other you request to know: The Apple study lands aft Intel’s banal already broke supra its aged 2000 peak, turning a long-running betterment communicative into a record-high rally. The banal is coming disconnected a 100% summation successful April, which was its champion ever summation successful a month. In May it’s already implicit 30%.