San Francisco Intel's stock rose more than 1% in after-hours trading Monday amid reports that Apple is in talks to buy its smartphone-modem chip business.
The Wall Street Journal first reported news of the potential deal, citing people familiar with the matter. Shares in Apple rose slightly following the report.The deal would give Apple more of a role in developing key parts of its smartphones at a time when sales are faltering as phones last longer and people have stopped replacing them as frequently. The smartphone-modem chips allow phones to connect to wireless data networks.
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