Chip Stocks Rebound on Micron, Qualcomm; Apple to Partner with Intel

Chip stocks experienced a notable rebound this week following optimistic outlooks from Micron Technology and Qualcomm. Additionally, former President Donald Trump announced that Apple has agreed to collaborate with Intel to design and manufacture its chips in the United States.

Details of the Chip Stock Rebound

Micron stated that customers have committed to spending $22 billion on its chips and forecast quarterly profit and revenue well above expectations, sending its shares 12% higher in after-hours trading.

Qualcomm also provided positive guidance, further boosting confidence in the semiconductor sector.

Apple-Intel Partnership

Trump said Apple has agreed to work with Intel to design and manufacture its chips in the US. This move would be a major boost for Intel's turnaround efforts, as a contract with Apple would lock in steady demand from the iPhone maker, enhancing Intel's reputation and sales as it seeks to close the gap with rival TSMC.

AI-Driven Layoffs

Oracle's total workforce declined 13% (about 21,000 employees) in its fiscal 2026, as the cloud computing giant continued restructuring its business, partly driven by AI adoption across its operations.

Spanish newspaper Expansion reported that Santander may offer early retirement to up to 3,000 employees in Spain as the bank braces for AI impacts.

SK Hynix's Rise

SK Hynix overtook Samsung Electronics to become South Korea's most valuable listed company. Shares in the world's most valuable memory chipmaker rose, bringing its market capitalization to $1.35 trillion.

What This Means for Investors

These developments indicate that demand for AI-related memory chips remains strong, bolstering investor hopes for continued sector growth. Apple's potential shift to Intel could reshape the contract chip manufacturing market. However, layoffs at Oracle and Santander remind that AI is also driving widespread restructuring across industries.