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.
In a post shared on X, Kuo wrote that industry checks suggest visibility on Intel supplying advanced-node chips for Apple has “recently improved significantly.”
Apple has already signed a non-disclosure agreement with Intel and received initial access to the company’s 18AP process design kit.
Early modelling, covering performance-per-watt and other efficiency benchmarks, is progressing as expected, Kuo said.
The next step hinges on Intel releasing updated PDK versions — 1.0 and 1.1 — projected for the first quarter of 2026.
If development remains on schedule, Apple could begin sourcing low-end M-series processors from Intel sometime between the second and third quarter of 2027.
These entry-class chips underpin popular consumer devices, including the MacBook Air and the iPad Pro, with combined shipment volumes of roughly 20 million units anticipated this year.
While no agreement has been finalised and timelines remain fluid, Kuo noted that Apple’s willingness to engage at an advanced process level marks an important shift — particularly at a time when geopolitical considerations are increasingly shaping semiconductor supply chains.
Intel expected to begin shipping Apple’s lowest-end M processor as early as 2027
There have long been market rumors that Intel could become an advanced-node foundry supplier to Apple, but visibility around this had remained low. My latest industry surveys, however, indicate that
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A strategic shift that could reshape Intel’s revival narrative
Beyond direct revenue, the potential collaboration carries symbolic weight.
It would represent one of Apple’s most meaningful moves to diversify chip production away from Asia, aligning with the Trump administration’s push to strengthen domestic semiconductor manufacturing.
For Intel, the implications go deeper.
The company has spent years trying to rebuild credibility in cutting-edge foundry technology after falling behind Taiwan Semiconductor Manufacturing Co., whose chips currently power nearly all high-end Apple devices.
“For Intel: The significance of winning Apple’s advanced-node orders far exceeds the direct revenue and profit contribution from this business,” Kuo said.
“Although Intel will still be unable to compete head-to-head with TSMC over the next several years, this suggests that the worst may soon be over for the IFS business. Looking ahead, the 14A node and beyond could capture more orders from Apple and other tier-one customers, turning Intel’s long-term outlook more positive”
Taiwan launches probe into alleged technology leaks involving former TSMC executive
The optimism around Intel comes even as the company faces scrutiny in Taiwan.
Prosecutors this week searched multiple residences linked to an Intel executive, former TSMC senior vice-president Wei-Jen Lo, as part of an investigation into alleged trade-secret transfers.
Authorities seized computers, storage devices and secured legal approval to freeze Lo’s real estate holdings.
TSMC, a key supplier to Nvidia and other chip leaders, filed a civil complaint accusing Lo of having a high probability of using or disclosing proprietary information after joining Intel in October.
Lo previously worked at Intel for 18 years before moving to TSMC in 2004, a background that has heightened concerns over potential intellectual property exposure.
Prosecutors said Lo may have violated Taiwan’s National Security Act, which covers unauthorised transfer of core technological assets.
Intel rejected the claims, saying it has no reason to believe Lo acted improperly and emphasising that its policies bar the transfer of third-party intellectual property. Lo did not respond to requests for comment.
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