Sou Hu Cai Jing·2025-11-28 19:45Core Insights - Intel's stock experienced a significant rebound following a prediction by analyst Ming-Chi Kuo that Intel will begin supplying low-end M-series chips to Apple as early as 2027, marking a major turnaround for Intel after losing Apple's Mac processor orders for several years [1][3][4] Group 1: Intel's Stock Performance - Following Kuo's announcement, Intel's stock surged over 10%, achieving its best single-day performance in over two months, and has seen a cumulative increase of over 20.6% over five trading days [1][3] - The stock closed at its highest level since October 29, reflecting renewed investor optimism about Intel's future prospects [1][6] Group 2: Collaboration Details - Kuo indicated that Apple plans to use Intel's 18A advanced process technology for its low-end M-series processors, primarily for MacBook Air and iPad Pro, with an expected combined shipment of around 20 million units in 2025 [3][5] - Apple has signed a non-disclosure agreement with Intel and is currently awaiting the release of Intel's PDK 1.0/1.1 versions, which are crucial for the development of these chips [5][6] Group 3: Strategic Implications - Winning Apple's advanced process order is seen as a significant symbolic victory for Intel, indicating that the worst period for its foundry services may be coming to an end, despite the relatively small order volume compared to competitors like TSMC [6][10] - The collaboration aligns with Apple's strategy to diversify its supply chain and support U.S. manufacturing policies, while still relying heavily on TSMC for the majority of its M-series chips [10][11] Group 4: Government Support and Market Position - Intel's recovery is supported by substantial investments from the U.S. government, including an $8.9 billion investment that makes the government one of Intel's largest shareholders [6][13] - Despite facing challenges in regaining its technological edge and market share, Intel's stock has risen nearly 64% since the announcement of government investment, reflecting growing investor confidence [6][13]