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Intel shares soar on Apple chip agreement report

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Image accompanies the article at CNBC Technology. No description was extracted from the source.

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.

Key facts

Summary

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. If it comes to fruition, the deal would be the most notable vote of confidence yet for Intel's once-struggling chip foundry business. For Apple, it would be the end of era.

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