APPLE, INTEL HAVE REACHED PRELIMINARY CHIP-MAKING AGREEMENT

Summary from the TLDR newsletter

Intel will start manufacturing some of the chips that power Apple devices again. It is unclear which products Intel will make chips for. Apple has long been TSMC's top customer, but soaring demand means that Apple no longer has the leverage to secure the supplies it needs. CEO Tim Cook has blamed the lack of availability of advanced chips for the company's inability to meet customer demand for iPhones.