AAPL Rises on Back of Intel x86 Rumor


The Street reports that investors have given both Apple and Intel stocks a boost following rumors over the weekend that Apple was set to announce a switch to Intel processors Monday.

The rumor - for that is all it is at this stage - will reportedly be announced by Steve Jobs during his WWDC keynote,, but the lack of corroboration of the Mac-on-Intel story didn't stop Wall Street adding 2% to AAPL.

Apple shares have been somewhat volatile lately, as investors assess its likely June quarter earnings. Having recovered to over $40, there was another fall recently, but the recent boost has seen shares rise to $39.14.

According to The Street, the Wall Street Journal picked up a story which suggested IBM couldn't hit the price concession points Apple wanted, thus giving Intel the inside running.

The article also notes that UBS (Union Bank of Switzerland) have issued a 'bullish' report on the prospects of an Intel-Apple partnership, viewing it as a major positive for the wider adoption of Apple software, such as iLife.

UBS is a relatively lonely voice in the analysis which emerged over the weekend; few Apple watchers or analysts supported the move, particularly as the company has only just completed a successful transition to the OS X platform on PowerPC.

Intel shares also rose on the news, closing 12 cents higher at $27.45.