Intel Gains On Potential Apple, Facebook News

Intel Corporation (NASDAQ: INTC) gained Wednesday in a run-up coinciding with a rumor that its modem chips will be included in a version of the iPhone aimed at markets in Asia and Latin America.

Shares of Intel climbed about 3.5 percent to $32.81 recently and may also be benefiting from news Tuesday that Facebook Inc (NASDAQ: FB) unveiled a new server design based on its collaboration with Intel.

Intel's deal to supply Apple Inc. (NASDAQ: AAPL) with chips was reported Tuesday by VentureBeat, which cited unnamed sources.

Intel's 7360 chip will ship next year inside a special version of the iPhone that will be marketed to emerging markets in Asia and Latin America, according to VentureBeat, and will take the place of components previously supplied by Qualcomm, Inc. (NASDAQ: QCOM).

Qualcomm changed hands recently at $71.31, down $0.58.