Intel tumbles on report that Apple will use its own chips as early as 2020

Apple Inc is planning to use its own chips in Mac computers beginning as early as 2020, replacing processors from Intel, Bloomberg reported on Monday, citing people familiar with the matter.

Intel shares were down 8.9 per cent at US$47.45.

The initiative, code named Kalamata, is still in early developmental stages but comes as part of a bigger strategy to make Apple’s family of devices work more similarly and seamlessly together, according to the report.

Apple and Intel did not immediately respond to requests for comment.

© Thomson Reuters 2018