Is Apple (NASDAQ:AAPL) Planning to Buy Intel?
Market News

Is Apple (NASDAQ:AAPL) Planning to Buy Intel?

Story Highlights

Other companies besides Qualcomm could be considering buying Intel, and CEO Patrick Gelsinger cost Intel quite a bit of money with TSMC.

Not so long ago, we heard about tech stock Qualcomm (QCOM) looking into the notion of buying chip stock Intel (INTC). And now, another such report has emerged, but this time, it may be even bigger. This time, the word is that Apple (AAPL) may be making a play for Intel. The news offered little help for Intel, though, as shares were down nearly 2% in Wednesday afternoon’s trading.

Word from Tom’s Guide revealed that Apple, and potentially even Samsung (SSNLF), may have an interest in buying Intel. If either—or really any, if you count Qualcomm—company were interested, they could buy in at a bargain price, as shares are down over 37% over the last year. Throw in Intel’s massive cost-cutting measures, including huge layoffs, and it becomes easy to see why some companies might think they would have a deal on their hands picking up Intel.

With signs that the Arrow Lake lineup may have some issues of its own, Intel may be included to seek a buyer in rapid fashion. And while the rumor mill may suggest Intel would be a hot property, only time will tell if anyone is sufficiently interested to sign a check.

…And There Goes the Discount

And then, as if things were not bad enough, reports from WCCFTech revealed that Patrick Gelsinger may have just cost Intel a hefty discount with the Taiwan Semiconductor Manufacturing Company (TSM). The issue came when Gelsinger made some unfortunate remarks about Taiwan, stating that “Taiwan is not a stable place.”

The remarks were sufficiently incendiary that TSM pulled the plug on an offer in which TSM would have provided its three-nanometer process manufacturing capability at a 40% discount over normal prices. TSM then added insult to injury by declaring that Gelsinger was “too old to drive meaningful change at Intel,” the WCCFTech report noted.

Is Intel a Buy, Hold, or Sell?

Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on one Buy, 26 Holds, and seven Sells assigned in the past three months, as indicated by the graphic below. After a 37.37% loss in its share price over the past year, the average INTC price target of $25.21 per share implies 12.44% upside potential.

See more INTC analyst ratings

Disclosure

Related Articles
Samuel O'BrientNvidia (NASDAQ:NVDA) Stock Surges to Historic $3.6 Trillion Market Cap
Nikolaos SismanisIs Berkshire Hathaway’s (BRK.B) Cash Pile the Perfect Hedge Against High Valuations?
TheFlyApple App Store revenue increased in October, says UBS
Go Ad-Free with Our App