Intel shares pop on report Qualcomm has approached it about takeover

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Intel shares pop on report Qualcomm has approached it about takeover

Qualcomm CEO Cristiano Amon speaks at COMPUTEX forum in Taipei, Taiwan June 3, 2024. 

Ann Wang | Reuters

Qualcomm approached Intel about a takeover in recent days, the Wall Street Journal

This is the hidden content, please

• Sign In
• or
• Sign Up

, citing people familiar with the matter.

Intel shares rose 8% on the report.

The deal, if it were to happen, would be one of the largest technology mergers in years. Intel has a market cap around $96 billion.

It would cap off a dire stretch for Intel. The company’s stock had its biggest one-day drop in over 50 years in August after the firm reported disappointing earnings. Intel stock is down 53% in 2024 as investors express doubts about its costly plans to manufacture and design chips.

Qualcomm and Intel compete in several markets, including for PC and laptop chips.

Representatives for Qualcomm and Intel didn’t immediately respond to a request for comment.

This is breaking news. Please refresh for updates.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Intel #shares #pop #report #Qualcomm #approached #takeover

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/