Intel and Super Micro surge on Trump-Apple chip deal as semiconductors stage post-Fed rebound, SOXX +6.6%

Intel Corp. rocketed 10.6% on Thursday after President Trump announced Apple would partner with the company to design and manufacture chips in the United States, delivering the strongest validation yet of Intel's foundry strategy and triggering the semiconductor sector's sharpest single-day rally in weeks. The S&P 500 advanced 1.1% to 7,500.58, the Nasdaq Composite gained 1.9% to 26,517.93, and the iShares Semiconductor ETF (SOXX) surged 6.6%, fully reversing losses from the Federal Open Market Committee's rate-hike signal on June 16.

Today's biggest movers

Intel jumps 10.6% on Trump-Apple chip manufacturing announcement

Intel Corp. (NASDAQ: INTC) closed at $133.99, up 10.6%, after President Trump posted on social media that Apple had "agreed to work with Intel to design and build its Chips in America." Securing Apple as a foundry customer would be the most consequential step yet in Intel's pivot from vertically integrated chip designer to contract manufacturer competing directly with Taiwan Semiconductor. Bank of America analyst Vivek Arya raised his 2030 server CPU total addressable market estimate to more than $170 billion from $125 billion and now models Intel's earnings power at more than $6 per share by 2030, up from a prior range of $3 to $4. Intel reports next on July 23.

The announcement accelerates a reshoring narrative that had been building through 2026 U.S. industrial policy. INTC gave up significant ground on FOMC day June 16 as higher-for-longer rates pressured capital-intensive foundry investment; Thursday's Apple news more than offset that decline and pushed Intel's year-to-date gain to 240%.

Super Micro secures $7B financing for $39B AI server backlog

Super Micro Computer Inc. (NASDAQ: SMCI) gained 10.4% to $30.66 after securing a $7 billion financing package to address its $39 billion order backlog for high-density AI server systems. The capital resolves a near-term liquidity overhang that had weighed on shares, though gross margins have contracted from 12% to 6% over the past year and a recent dilutive capital raise triggered a 28% decline before Thursday's recovery. Five of eight covering analysts rate SMCI a buy; the consensus 12-month price target of $37.25 represents a 21% premium to Thursday's close.

TSMC upgrades 2026 revenue outlook above 30%

Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) gained 6.9% to $462.12 after management updated its full-year 2026 revenue growth guidance to above 30% in U.S. dollar terms, alongside elevated capital expenditure commitments that signal confident demand visibility through the second half. TSM reports Q2 2026 earnings on July 16. Seventeen covering analysts rate the stock a strong buy, with a consensus 12-month price target of $473.40. TSMC's market capitalization stood at $1.97 trillion at Thursday's close.

ARM extends 2026 gain to 283% after Bernstein raises target to $500

Arm Holdings plc (NASDAQ: ARM) added 4.9% to $439.46, extending a year-to-date advance of 283% after Bernstein raised its price target to $500 from $300 on June 17. The upgrade followed ARM's record fiscal fourth-quarter results: revenue rose 20% year over year to $1.49 billion, licensing revenue grew 29% to $819 million, and data center royalties more than doubled as cloud AI demand accelerated. Mizuho, Barclays, KeyBanc, and Bank of America also raised their targets in recent sessions. Full-year fiscal 2026 revenue reached $4.92 billion, up 23%, with non-GAAP EPS of $1.77. ARM was also the top gainer in Wednesday's session, adding to sustained institutional momentum.

AMD rides sector wave with cautions on GPU demand and insider selling

Advanced Micro Devices Inc. (NASDAQ: AMD) advanced 4.9% to $537.37, rising with the broad semiconductor recovery. AMD agreed to acquire MEXT, an advanced memory optimization software maker, earlier this week, which analysts view as additive to AMD's AI software stack. Two signals warrant monitoring: alternative-data firm M Science published a report on June 16 warning that AMD's second-quarter GPU deployments have "materially worsened" and that Q2 Data Center revenue may fall short of Wall Street consensus. Separately, SEC Form 4 filings show CEO Lisa Su disclosed a $57.6 million stock sale on June 12, followed by a CTO stock option liquidation disclosed June 17. AMD reports Q2 2026 results on August 4.

Notable but quieter

Broadcom Inc. (NASDAQ: AVGO) gained 4.7% to $411.35; JPMorgan analysts called the stock an "aggressive buy" opportunity, citing AI networking and custom silicon tailwinds. Applied Materials Inc. (NASDAQ: AMAT) climbed 4.1% to $617.11 and Lam Research Corp. (NASDAQ: LRCX) rose 4.0% to $389.04, as chip equipment makers tracked the foundry recovery. ASML Holding N.V. (NASDAQ: ASML) gained 3.3% to $1,929.68. NVIDIA Corp. (NASDAQ: NVDA) advanced 3.0% to $210.69 on volume of 238 million shares, its heaviest session in recent weeks; NVDA's Annual General Meeting is set for June 24.

Among laggards, Dell Technologies Inc. (NYSE: DELL) fell 2.3% to $409.50 in profit-taking after reaching a record high of $469.47 on June 1; an SEC filing disclosed insider selling by key directors. Salesforce Inc. (NYSE: CRM) dropped 2.1% to $151.78, extending a year-to-date decline of 40% as enterprise AI spending rotates toward infrastructure names. Palantir Technologies Inc. (NYSE: PLTR) slipped 1.7% to $128.47 and Datadog Inc. (NASDAQ: DDOG) shed 1.6% to $223.00; software names broadly underperformed the hardware-led session.

What to watch next week

Micron Technology reports fiscal Q3 2026 results on June 24, with analyst consensus projecting EPS of $19.25 (up roughly 908% year over year) and revenue of $33.8 billion (up 263%), numbers that would establish a high-water mark for AI memory infrastructure demand. NVIDIA holds its Annual General Meeting the same day. Taiwan Semiconductor's Q2 2026 earnings are scheduled for July 16, and Intel reports July 23. June's semiconductor recovery has been uneven; Thursday's Apple-Intel announcement adds industrial policy as a driver alongside corporate AI capital expenditure, and further commentary from Fed Chair Kevin Warsh on the rate path will continue to set the tone for capital-intensive chip names.

Not investment advice.