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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intel Corporation    INTC

INTEL CORPORATION

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Apple in advanced talks to buy Intel's smartphone-modem chip business: WSJ

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07/22/2019 | 06:08pm EDT
Logo of Apple is seen at a store in Zurich

(Reuters) - Apple Inc is in advanced talks to buy chipmaker Intel Corp's smartphone-modem chip business, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Assuming talks don't fall apart, the deal, valued at $1 billion or more, could be reached in the next week, according to the WSJ. (https://on.wsj.com/2Yi5E6H)

Intel announced it would exit the 5G modem chip business in April, hours after Apple settled a longstanding legal dispute with Qualcomm Inc, a key supplier of iPhone modem chips.

The Journal had reported in the same month that Intel was exploring a sale for its modem chip business to Apple or another acquirer.

While Apple declined to comment, Intel did not respond to a Reuters request for comment.

Shares of Intel rose 1.5% to $52.10, while those of Apple were up marginally in extended trading. Qualcomm's shares were down about 2% on the report.

Intel is expected to report second-quarter results on July 25, while Apple is scheduled to report its third-quarter earnings on July 30.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE 1.86% 210.35 Delayed Quote.33.35%
INTEL CORPORATION 1.57% 47.23 Delayed Quote.-0.92%
QUALCOMM 2.17% 74.87 Delayed Quote.31.56%
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Financials (USD)
Sales 2019 69 419 M
EBIT 2019 22 077 M
Net income 2019 18 551 M
Debt 2019 15 134 M
Yield 2019 2,64%
P/E ratio 2019 11,5x
P/E ratio 2020 11,1x
EV / Sales2019 3,26x
EV / Sales2020 3,19x
Capitalization 211 B
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Technical analysis trends INTEL CORPORATION
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 43
Average target price 54,22  $
Last Close Price 47,23  $
Spread / Highest target 58,8%
Spread / Average Target 14,8%
Spread / Lowest Target -19,5%
EPS Revisions
Managers
NameTitle
Robert Holmes Swan Chief Executive Officer, Director & Executive VP
Andy D. Bryant Controller
Ann-Marie Holmes Vice President-Operations & Manufacturing
Todd Underwood Chief Financial Officer & Vice President
Ann B. Kelleher Senior VP-Technology & Manufacturing Group
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QUALCOMM31.56%91 016