Intel Corporation (NASDAQ: INTC) Announces Intent to Win Over Apple Inc (NASDAQ: AAPL)

Apple Inc (NASDAQ: AAPL) announced that it would be making its chips in June 2020. As a result, this meant the end of its partnership with Intel Corporation (NASDAQ: INTC) who sold chips to the company. However, Intel appears not to have given up on a business relationship with Apple.

Intel’s CEO, Pat Gelsinger, plans to get into business with Apple through its new foundry business. While this is a long-term goal, Intel hopes to create better products than Apple’s to convince the company to work with it.

Since Apple began producing chips in-house, it has released several chips, including the latest M1 Pro and M1 Max for the new 16 and 14-inch Mac models. These latest chips will use little power, thus prolonging the battery life of devices.

Apple has also made upgrades on its 13-Pro max iPhone. For instance, the phone has a 16.99mm camera bigger than the 12 Pro max’s 14.10mm. It also has a smaller 26.31mm notch. The 12-Pro max has a 34.62mm notch.

Theodore A. Kim files a lawsuit against Apple

Despite its recent developments, Theodore A. Kim is suing Apple for $1383.13, the exact cost of his phone. Kim, who lives in San Francisco, says the company refused to fix his phone even though it was still under warranty and it sustained more damage under the company. He has filed his complaint in a small claims court. The judge has set a hearing for November 23, 2021.

Apple will test its office employees daily for COVID-19

Apple has also made a new policy that will force unvaccinated office employees to be tested for COVID-19 whenever they report to the office. In addition, employees who refuse to disclose their vaccination status will also undergo a test. However, the company will only require unvaccinated retail employees to take the test twice a week.

While Apple reported earnings that surpassed estimates given by analysts for its third quarter, the company announced that its next quarter is not likely to be as successful because of problems in the supply chain. Despite this, analysts estimate that the company will make a revenue of $84.8 billion, a 31.1% increase from the same quarter in 2020.

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Published by Donna Fago

I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at recently due to my passion for the markets.

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