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Key points
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Qualcomm is reportedly considering buying parts of Intel.
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A Reuters article said company executives are especially interested in Intel’s PC chip design business.
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It’s the latest report detailing potential deal activity for Intel as the chip giant looks to revive interest in its flagging stock.
Qualcomm (QCOM) Shares fell after a report that the company has studied the possibility of buying parts of Intel (INTC), potentially including its PC chip design business.
Reuters The mobile semiconductor maker on Friday explored the idea of buying different parts of Intel. One of its sources said the PC design unit is of “great interest,” although it is considering all of Intel’s design operations.
The report is the latest to outline possible trading activity by Intel as it seeks to revive interest in its stock. A recent news report indicated it may sell part of its stake in MobilEye (MBLY); another discussed options regarding its foundry business. Intel shares recently fell about 2%, while Qualcomm’s were down more than 3%.
According to a Reuters article on Friday, an Intel spokesperson said that Qualcomm has not reached out to the company to discuss any acquisition and that Intel is “deeply committed” to its PC business. Qualcomm did not immediately respond to Investopedia’s request for comment.
Qualcomm shares are up about 9% so far this year, while Intel shares have lost about 60% of their value.
