Intel Corp. (INTC) Climbs 10.3% on Apple Deal Hype

INTC -1.65% AAPL -0.51% TSM -0.89%

We recently published 10 Stocks Racking Up Big Gains. Intel Corporation (NASDAQ:INTC) is one of the top performers of last week.

Intel Corporation extended its winning streak to a fifth straight day on Friday, jumping 10.28 percent to finish at $40.56 apiece amid analyst optimism that it could supply Apple Inc.’s lowest-end M-series chips in the next two years.

According to TF International Securities analyst Ming-Chi Kuo, his latest industry surveys indicate that “visibility on Intel Corporation (NASDAQ:INTC) becoming an advanced-node supplier to Apple has recently improved significantly.”

Notably, Kuo said that Apple plans to tap Intel Corporation (NASDAQ:INTC) to ship its lowest-end M processor, which it uses for MacBook Airs and iPad Pros.

He noted, however, that Intel Corporation (NASDAQ:INTC) remains behind its rival Taiwan Semiconductor Manufacturing Company but that a deal with the technology giant would make its long-term outlook more positive.

In September this year, Intel Corporation (NASDAQ:INTC) announced that it had lured Apple Inc. to invest in the company as part of its efforts to bolster its business.

Apart from Apple, Intel Corp. (NASDAQ:INTC) in the same month secured a $5 billion investment from chip giant Nvidia Corp.

The partnership would also cover the joint development of AI infrastructures and personal computing products that accelerate applications and workloads across hyperscale, enterprise, and consumer markets.

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Disclosure: None. This article is originally published at Insider Monkey.