Intel Stock Keeps Climbing Amid Takeover Talk | Finance news

• Intel shares added to latest positive factors Tuesday following a report final week that the company may very well be a takeover goal.

• Rival chipmaker Broadcom is the almost definitely purchaser, some analysts stated, with Elon Musk has talked about as a potential wild card.

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• Intel’s shares have risen recently, however the stock has misplaced more than half its worth over the previous 12 months.

Takeover rumblings that lifted shares on Intel final week have been nonetheless rumbling right this moment.

Shares of Intel (INTC) have been up more than 2% Tuesday afternoon, outpacing broader markets’ positive factors and lengthening Friday positive factors that have been powered partly by deal-related rumors.

Citi analysts final week stated they see Broadcom (AVGO) as “the most likely company” to be fascinated by shopping for Intel. Such a deal, the analysts stated, would possibly require Broadcom to promote Intel’s struggling foundry business—which the U.S. authorities may not like, given a “stated interest in Intel developing a merchant foundry.”

Different named potential patrons have included Qualcomm (QCOM)—and JPMorgan analysts final week stated they see a attainable wild-card purchaser in Elon Musk. The analysts “could understand the logic” if Musk have been fascinated by Intel’s foundry arm, “considering the amount of chips that his Tesla (TSLA), xAI, and SpaceX entities likely require.”

Intel is valued within the tens of billions of {dollars}, however the stock has misplaced more than half its worth over the previous 12 months, even after its latest bounce. The latest positive factors point out that buyers could also be shopping for into the attainable that change, together with M&A, is coming within the wake of CEO Pat Gelsinger’s retirement late final 12 months.

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