Intel

INTC

Market cap $193B

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Could Intel be closer to scoring a deal with iPhone maker Apple?

A major U.S. chipmaker got a boost from speculation that it could win a new Big Tech customer, while a high-flying pharmaceutical stock reversed some of its recent gains.

102.3%. That is how much Intel shares have climbed since January, when the chipmaker's stock traded around the $20.22 mark, a little more than half what they are worth today.

Intel Corp (NASDAQ: INTC) stock gained as TF International Securities' Ming-Chi Kuo signaled growing momentum behind the chipmaker's bid to manufacture Apple Inc's (NASDAQ: AAPL) next-generation M chips.

Intel Corp. shares rose more than 8% on Friday after noted technology analyst Ming-Chi Kuo of TF International Securities said the US chipmaker could become a foundry supplier for upcoming generations of Apple's M-series processors — a development that, if it materialises, would signal one of Intel's most consequential wins in years.

Shares of U.S. chipmaker Intel were leading the S&P higher as stocks edged upward on a holiday-shortened Black Friday session expected to be light on trading volume and corporate news.

Intel Corp (NASDAQ:INTC, XETRA:INL) shares moved higher on Friday, adding more than 7% on optimism about demand for AI-powered personal computers. Investors remain bullish on Intel amid escalating trade-secret litigation with Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM).

TSMC is suing Intel for hiring away one of its star semiconductor engineers. Taiwan's government is investigating the hire as a criminal matter.

Major U.S. chip stocks look set for a quiet, low-volume Friday session following Thanksgiving. Nvidia, AMD, and Intel remain within familiar ranges, with key moving averages shaping near-term resistance and dip-buying opportunities.