No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Shares in Intel soared on Thursday, after Donald Trump said Apple had agreed to partner with the US tech firm on semiconductor design.
In a post on Truth Social, the American president said the iPhone giant would work with Intel to design and build semiconductors in the US.
He claimed "stupid presidents" before him had taken the economy for granted and let countries like Taiwan "steal our Semiconductor Factories".
He continued: "So I decided to help Intel because we need to design and build our Chips right here in America.
"First, we helped bring in Nvidia, and they agreed to build their first level Chips with Intel. Next, Elon [Musk] agreed to build his TerraFab, the largest Chip Factory in the World, designed together with Intel's Technology team.
"And, finally, Apple has agreed to work with Intel to design and build its Chips in America."
A partnership would help bolster Intel's manufacturing business, while for Apple, it would help diversify its supplier base. Apple's main supplier currently is Taiwan chip manufacture TSMC.
Neither company has so far commented on the president's post. But that did not hinder Intel's rally, and by 1130 BST, the stock had surged 9% in pre-market trading while Apple was up 1%.
Trump also used the Truth Social post to praise his investment acumen, writing: "We decided to help Intel in exchange for 10% of their shares. Is that too much or, too little? They were worth around 100 Billion Dollars when we made our offer. Now they are worth over 600 BILLION DOLLARS!
"America's stake is now over 60 Billion Dollars. When was the last time a President made America money??"
The Trump administration acquired a stake in Intel last year.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.