Intel shares soar on Apple chip deal report. Here's why it signals a total pivot for chipmaking

Apple and Intel are reportedly closing in on a deal that would see Intel make some of the chips for the iPhone maker's devices, marking a major shift in the chipmaking landscape. Talks between the two companies have been brewing for more than a year, with a preliminary agreement reached in recent months, the Wall Street Journal reported Friday, citing people familiar with the matter. Intel shares soared nearly 14% on Friday. Apple shares added 2%. Both companies declined to comment. …