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Key Takeaways
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Qualcomm is reportedly considering buying parts of Intel.
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A Reuters story said company executives are especially interested in Intel’s PC chip design business.
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It’s the latest report to detail possible deal activity for Intel as the chip giant looks to revive interest in its flagging shares.
Qualcomm (QCOM) shares fell following a report that the company has looked into buying segments of Intel (INTC), potentially including its PC chip design business.
Reuters on Friday the maker of semiconductors for mobile devices has explored the idea of purchasing different parts of Intel. One of its sources said that the PC design unit is of “significant interest,” although they are considering all of Intel’s design operations.
The report is the latest to describe possible deal activity for Intel, which is seeking to reinvigorate interest in its shares. One recent story indicated that it might sell some of its stake in MobilEye (MBLY); another discussed options regarding its foundry business. Intel’s shares were recently down about 2%, whileQualcomm’s were off more than 3%.
Reuters’ Friday story quoted an Intel spokesperson as saying Qualcomm has not approached the company about any acquisitions, and that Intel is “deeply committed” to its PC business. Qualcomm did not immediately respond to Investopedia’s request for comment.
Shares of Qualcomm are up some 9% year-to-date, while Intel shares have lost about 60% of their value.
Read the original article on Investopedia.
