Apple plans to ditch Intel chips in favor of its in-house model on Mac computers, shares of Intel fell 9 percent after the report.

Apple is planning to ditch Intel chips in favor of its use its own chips in Mac computers beginning as early as 2020, according to the latest report from Bloomberg News. Shares of Intel fell 9 percent after the news broke. Per Bloomberg, “the initiative, code named Kalamata, is still in the early developmental stages.”

Back in 2017, there were rumors that Apple was developing custom Mac chip, but would not replace Intel. Apple’s transition to Intel processors became public knowledge at the 2005 Worldwide Developers Conference (WWDC), when Apple’s CEO Steve Jobs made the announcement that the company would make a transition from the use of PowerPC microprocessors supplied by Freescale and IBM in its Macintosh computers, to processors designed and manufactured by Intel, a chief supplier for most of Apple’s competitors.

In August, 2009, Apple released Mac OS X v10.6 “Snow Leopard” as Intel-only, removing support for the PowerPC architecture. It is also the last Mac OS X version that support PowerPC based applications.