reach initial chip-making – Getting the Apple contract would give Intel a steady flow of demand from one of the world’s largest consumer electronics companies, boosting both its reputation and the manufacturing business that has lagged behind TSMC in recent years. (Express Images/Agencies) The Wall Street Journal reported on Friday that Intel has reached a preliminary deal to make some chips for Apple devices, giving a potential boost to Intel’s contract manufacturing business and a boost to US chip production by Washington.

The companies had been engaged in intense talks for more than a year and struck a formal deal in recent months, the report said, citing people familiar with the matter. Intel’s shares rose 15% on the news, while Apple’s shares were up about 1.

7% in afternoon trading. Getting the Apple contract would give Intel a steady flow of demand from one of the world’s largest consumer electronics companies, boosting both its reputation and the manufacturing business that has lagged behind TSMC in recent years.