Apple making its own processors - to dump Intel CPUs in 2020

Bloomberg just send Intel shareholders running for the hills as the news agency picked up rumors that Apple will start using its own processors in Mac laptops and/or desktops from 2020.

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.