US Stocks Close: Intel Shares Jump 10%
On Nov. 28, U.S. stocks closed three hours early after Thanksgiving and still managed a fifth straight day of gains, with big tech mostly higher even as Nvidia slipped 1.81%. Apple rose 0.47%, Microsoft climbed 1.34%, Amazon gained 1.77%, Broadcom advanced 1.36%, Meta jumped 2.26%, and Tesla added 0.84%, while Alphabet C edged down 0.05%.
The Philly Semiconductor Index outperformed, up 1.82%, and Intel surged 10.19%—the day's standout. Well-known analyst Ming-Chi Kuo said Intel could start shipping Apple's entry-level M-series processors as early as 2027.
Industry chatter about Intel becoming an advanced-node manufacturing partner for Apple has been around for a while, but visibility had been low. New supply-chain checks now suggest that outlook has improved meaningfully. Apple has reportedly signed an NDA with Intel and received the 18AP process design kit (PDK) version 0.9.1GA. Key simulations—covering power, performance, and area/cost (PPA)—are tracking as planned, with Apple waiting for Intel’s PDK 1.0/1.1, expected in Q1 2026.
If development stays on track after the next PDK drop, Apple's roadmap points to Intel beginning volume shipments of entry-level M-series chips built on 18AP in the second or third quarter of 2027.
