Intel Predicted to Win Orders for Non-Pro iPhone Chips in 2028 [Pu]

GF Securities analysts are forecasting that Intel's manufacturing relationship with Apple will extend beyond Mac processors. Following recent buzz about Intel securing orders for M-series chips, a new research note suggests the foundry is also poised to produce iPhone silicon later this decade.

Jeff Pu and Evan Lee reiterate their expectation that Intel will produce Apple M-series chips on its 18A-P node starting in 2027. This aligns with a recent report from Ming-Chi Kuo, who claimed Intel had signed a non-disclosure agreement with Apple to utilize the 18AP process, likely for lower-end M-series chips found in devices like the MacBook Air and iPad.

The analysts are now looking further out, predicting that Intel's momentum will continue with a win for Apple's "non-pro smartphone SoC" in 2028. This production would utilize Intel's 14A process node. The firm expects "firm visibility" on this deal by the end of 2025, noting that recent share price gains for Intel were driven partly by the earlier M-series news.


Beyond the processors themselves, the report highlights potential wins for Intel's backend packaging technologies. With TSMC facing capacity constraints for its CoWoS packaging—a situation exacerbated by high demand for AI accelerators—Intel's EMIB solution is emerging as a viable alternative. The analysts see a "high chance" for Intel to win packaging orders for Apple's ASICs as part of a "TSMC + Intel" supply chain model.

Intel's 18A process is reportedly key to building this customer confidence. The report notes that the yield rate for the node reached 60–65 percent in November and is targeting 70 percent by the end of 2025.

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