Over the last couple of years, there's been a lot of speculation about this. Apple is increasingly dumping suppliers in favor of homemade solutions, so a move away from x86 was seen as only a matter of time.
Sources familiar with Apple's plans claim the project is called "Kalamata". It's still in the early stages, and will likely involve a multi-step transition.
The initiative, code named Kalamata, is still in the early developmental stages, but comes as part of a larger strategy to make all of Apple’s devices -- including Macs, iPhones, and iPads -- work more similarly and seamlessly together, said the people, who asked not to be identified discussing private information. The project, which executives have approved, will likely result in a multi-step transition.The first Intel-based computers from Apple hit the market in January 2006. Before, the company used PowerPC processors.
Intel's shares are currently down 7.54 percent to $48.16. Apple accounts for about 5 percent of Intel's annual revenue.