Intel Is Breaking Out

Something shifted on the premarket tape this morning and it is hard to overstate how significant it is structurally.

Intel (INTC) surged as much as 9% before the open on Thursday, touching a potential record high around $129.84, after President Trump confirmed via Truth Social that Apple has agreed to work with Intel to design and build chips inside the United States. Trump’s post was direct: “Apple has agreed to work with Intel to design and build its Chips in America.” Neither company has officially confirmed the deal yet – but the market is not waiting for a press release.

This is the stock punching through a key overhead resistance zone that had capped multiple rally attempts since May. INTC hit its all-time high of $132.75 on May 11, 2026, sold off hard toward the $99 area in early June, and has now mounted an aggressive recovery. Today’s move is not just a bounce – it is a volume-driven breakout back toward that prior peak, with all major moving averages from the MA5 to the MA200 aligned in a strong buy configuration.

The financial backdrop matters here. Q1 2026 revenue came in at $13.6 billion, up 7% year-over-year, beating Wall Street estimates by roughly 9%. The Data Center and AI segment posted $5.05 billion in revenue, a 22% year-over-year jump. Intel Foundry’s operating loss narrowed to $2.4 billion, improving $72 million sequentially on better yields across its Intel 4, 3, and 18A process nodes. The foundry business is still losing money – that needs to be said plainly. But the loss curve is bending in the right direction.

The Apple deal, if fully realized, is transformational in scope. Analysts have noted it could roughly double Intel’s annual revenue run rate, currently tracking near $53 billion. Reports from earlier this year suggested Apple’s M7 chip built on Intel’s 18A-P process could power the MacBook Air and entry-level iPad Pro, with mass production targeting late 2027. The Intel 18A-P process entered risk production just one day before Trump’s announcement.

This is a foundry deal, not a return to Intel-designed processors. Apple still designs its own silicon in-house. Intel is the manufacturer here, acting as a contract fab – and that distinction matters for how you size the revenue opportunity.

The government’s $8.9 billion equity stake, now reportedly valued near $60 billion, gives this story an industrial policy dimension that pure-play chip names simply do not have. TSMC’s most advanced lines are fully absorbed by Nvidia and AMD. Apple needs optionality. Intel, right now, is the only domestic answer at scale.

The chart says watch the $132.75 prior high as the immediate resistance test. A clean break and hold there opens the door to price discovery. On the downside, the $117 area and the early June consolidation low near $99 are the logical support structure to monitor if today’s move fades.

The stock is up 464% over the past twelve months. It is extended. RSI is elevated. That means position sizing and entry discipline matter more than usual today – not less.

For informational and educational purposes only. Not investment advice. Trading involves risk, including loss of principal.