In a major shift that carries big implications for both companies, Apple will reportedly replace Intel’s processors with the company’s own chips in Mac computers as soon as 2020, according to a new report from Bloomberg. The changeover is likely to begin with laptops such as the 12-inch MacBook. Intel’s stock price took a hit soon after the report was published; Apple provides approximately 5 percent of the chipmaker’s annual revenue, according to Bloomberg. Aside from the processors in its Macs, Apple also uses Intel’s modem chips in some iPhones.

Apple’s last major Mac processor transition of this scope occurred when it moved away from IBM’s PowerPC chips in favor of Intel’s. Apple co-founder Steve Jobs announced the move in 2005 and…

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