Evercore ISI analyst Amit Daryanani notes that The Wall Street Journal reported that Apple (AAPL) has reached a preliminary agreement for Intel (INTC) to manufacture some of the chips that power the company’s devices. Such an agreement, should one be announced, would be a strategic positive for Apple that would improve its long-term supply-chain resilience and give Apple more flexibility as leading-edge capacity tightens, says the analyst, who keeps an Outperform rating and $330 price target on Apple shares.
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