Apple close to buying Intel's modem business: report

Apple Inc.

could be within a week of agreeing to a deal to buy Intel Corp.'s INTC, +2.15% modem-chip business, according to a Monday afternoon report. The Wall Street Journal reported that Apple and Intel are in advanced talks on a deal that values the business at $1 billion or more that could lead to a deal in the next week, based on anonymous sources. Intel stock gained about 2% in after-hours trading after the report hit, while Apple shares gained about 0.2%.

on the same day that Intel -- the only other Apple source for iPhone modem chips -- announced that it would wind down its modem business. The Journal reported that Intel and Apple were in talks for more than a year, but Intel began shopping the unit after Apple struck a multiyear deal with Qualcomm as part of the companies' legal settlement. After discussions with other companies, Intel re-ignited talks with Apple, according to the report.

Cough* You mean china i mean $AAPL yea they needed fresh blood for next layer down... :X

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple in Advanced Talks to Buy Intel’s Smartphone-Modem Chip BusinessApple is in advanced talks to buy Intel’s smartphone-modem chip business, a move that would jump-start the iPhone maker’s push to take control of developing the critical components powering its devices. A waste of money....D U M B..... Great... the biggest monopoly becomes MORE of a monopoly. Can we break up these bell companies? Steve Jobs is gone and all apple is repackaging the iPhone 4s greatness. Let other talented new companies with new minds innovate in this horrible market. Great article...
Source: WSJ - 🏆 98. / 63 Read more »

Morgan Stanley on Apple: 'Attractive setup into earnings'Morgan Stanley maintained its overweight rating on Apple's stock and hiked its price target to $247 from $231, heading into the tech giant's third-quarter earnings on July 30. lmao permabulls LiveSquawk Nah, you know something is terribad when you see headlines like this.
Source: CNBC - 🏆 12. / 72 Read more »