Intel shares climbed 13% on Tuesday, hitting a new all-time high as the chipmaker continued its breathtaking reversal of fortune.

The catalyst? A Bloomberg report that Apple is in active talks with Intel and Samsung to manufacture the main processors for its devices on U.S. soil — a potential seismic shift away from its long-standing reliance on Taiwan Semiconductor Manufacturing Co.

This follows Intel's best-ever month, with the stock jumping 114% in April alone, pushing its market cap north of $470 billion.

The company has been firing on all cylinders: a Google partnership expansion, a partnership with Elon Musk's Terafab project, and a $14.2 billion repurchase of its Fab 34 chip facility in Ireland.

CEO Lip-Bu Tan declared CPUs "an indispensable foundation of the AI era" on the Q1 earnings call, and the market is clearly buying it.

Adding fresh fuel, Intel announced Alex Katouzian — formerly of Qualcomm — as EVP of its new Client Computing and Physical AI Group, and confirmed Pushkar Ranade as permanent CTO.

From a near-irrelevant position in the AI chip race just a year ago, Intel is now up over 330% since the U.S. government took a 10% stake in August 2025.

President Trump has publicly taken credit for the rally. Whether that's warranted or not, the stock's momentum is undeniable.

$INTC ( ▼ 6.18% ) has a Ziggma score of 16, as it ranks lower than peers for growth, valuation, and profitability.

Intel's potential role in Apple's domestic chip supply chain is a legitimizing moment that could redefine the company's long-term positioning — not just as an AI infrastructure play, but as a cornerstone of U.S. semiconductor sovereignty.

If the Apple partnership materializes, Intel's valuation re-rating has further room to run. The risk: this is still a report, not a signed deal. Investors chasing momentum here should size accordingly.

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U.S. equities closed at fresh record highs on Tuesday, with the S&P 500 notching 7,259.22 and the Nasdaq touching 25,326.13.

The catalyst mix was familiar but potent: strong earnings across sectors, declining crude prices, and continued optimism around the U.S.-Iran ceasefire.

West Texas Intermediate crude dipped 3.9% to $102.27 per barrel, giving equities a meaningful tailwind, even as the nationwide gas price average rose to $4.483 per gallon — the highest since July 2022.

JPMorgan analysts warned crude could push toward $150 per barrel if the Middle East conflict extends into June.

Meanwhile, macro data offered a mixed picture: the ISM services index slipped to 53.6 versus a 54.0 estimate, while the JOLTS report showed job openings stable at 6.87 million alongside a sharp 655,000 jump in hiring.

The U.S. trade deficit for March came in at $60.3 billion — down 55% year-over-year — as tariff-front-running exports surged ahead of "liberation day" levies.

Roughly 85% of S&P 500 companies that have reported this season have beaten expectations.

Truist's Keith Lerner summed it up simply: the answer comes down to three words — profits, profits, and profits.

Forty-two S&P 500 stocks traded at new 52-week highs on Tuesday, including Alphabet, Amazon, Caterpillar, Broadcom, and Micron.

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Micron surged after unveiling the world's highest-capacity SSD, a 245 TB drive offering 84 times the energy efficiency of traditional hard drives, purpose-built for AI data centers.

A Fitch credit upgrade added further momentum for the memory chip leader.

Expeditors gained after Q1 EPS rose 16% to $1.71 despite Middle East supply chain disruptions.

The logistics provider sweetened the deal with a 5% dividend hike and an announcement of a $3 billion share buyback, reinforcing confidence in capital returns.

Rockwell advanced after raising full-year guidance, with Q2 sales up 12% year-over-year and EPS of $3.10.

The industrial automation leader is capitalizing on manufacturing investment tailwinds and demand for AI data center infrastructure.

🏦 Bullish (crypto exchange) surged 12% after announcing a $4.2 billion acquisition of transfer agent Equiniti, giving the exchange a regulated foothold in mainstream financial infrastructure.

🍺 Anheuser-Busch InBev popped more than 8% after reporting Q1 EPS of $0.97 on revenue of $15.27 billion, handily beating estimates of $0.89 EPS and $14.87 billion in revenue.

💊 Pfizer posted a Q1 beat, earning $0.75 per share (adjusted) on $14.45 billion in revenue, topping consensus estimates of $0.72 and $13.79 billion, respectively.

💳 PayPal gained nearly 3% after Q1 adjusted EPS of $1.34 on $8.35 billion in revenue, ahead of the $1.27 and $8.05 billion consensus.

🤖 Coinbase cut roughly 14% of its workforce, with CEO Brian Armstrong citing AI-driven operational changes and a pullback in the crypto market, ahead of Q1 earnings on Thursday.

🎮 GameStop made an unsolicited bid to acquire eBay for $125 per share (roughly $55.5 billion), while Michael Burry exited his entire GME position, citing unacceptable leverage levels in the proposed deal.

⛽ The national average gas price hit $4.483 per gallon on Tuesday — the highest since July 2022 — while U.S. fuel volumes are down 8% versus the same period last year.

🏠 Lowe's was downgraded to neutral by Bank of America, which flagged constrained earnings growth and a subdued DIY backdrop; analysts said they prefer Home Depot for its stronger Pro exposure.

⚡ Devon Energy was upgraded to strong buy by Raymond James with a $72 price target, implying another 40% upside, citing AI-driven operational efficiency gains and its merger with Coterra Energy.

📦 The U.S. trade deficit for March came in at $60.3 billion — down 55% versus a year ago — as exports surged 12% and imports fell 9.1% ahead of "liberation day" tariffs taking effect.

Waters blew past Q1 estimates, posting adjusted EPS of $2.70, up 20% year-over-year, on revenues of $1.267 billion, a stunning 91% jump driven largely by the integration of its BD Biosciences and Diagnostics acquisition.

Management raised full-year 2026 guidance following the results. The analytical instruments maker is benefiting from a meaningful portfolio transformation, and this quarter validates that the acquisition is delivering.

SanDisk delivered a blockbuster Q3, reporting GAAP net income that improved 287% to $3.615 billion on revenues of $5.95 billion — up 251% year-over-year.

Datacenter sales surged 233%, underscoring the company's sharp pivot toward enterprise and AI customers.

The results are a powerful signal that the memory market's AI-driven upcycle is far from over, and SanDisk's deliberate shift to higher-value enterprise customers is paying off in a big way.

Akamai jumped sharply as investors positioned ahead of the company's upcoming earnings, riding a broader technology sector rally fueled by the AI compute narrative.

The stock is seeing renewed interest in its cloud computing and security solutions as enterprises double down on distributed infrastructure.

🤖 Arm Holdings reports Q4 after the close: key read on AI chip architecture adoption and semiconductor demand.

💊 Novo Nordisk reports Q1 before the open: focus on weight-loss drug supply, international expansion, and volume guidance.

🎢 Walt Disney reports Q2 before the bell: streaming profitability and theme park attendance trends in focus.

🚗 Uber Technologies reports Q1 before the open: autonomous vehicle partnerships and delivery growth on watch.

🏥 CVS Health reports Q1 before the open: pharmacy performance and insurance cost trends under scrutiny.

🏨 Marriott International reports Q1 before the bell: global travel demand and business hospitality recovery data due.

💸 U.S. Treasury releases quarterly refunding details at 8:30 AM ET, clarifying the structure of its projected $189 billion in Q2 borrowing needs — bond markets will be watching closely.

🏦 Fed Vice Chair Michelle Bowman speaks at the Women in Housing and Finance Symposium — potential rate path signals on the table.

🏠 MBA Mortgage Applications data out at 7:00 AM ET — weekly read on housing market health and interest rate sensitivity.

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