Intel Corporation’s shares have increased by more than 2% on Tuesday, driven by speculation about a potential takeover. Analysts at Citi believe that Broadcom is the most likely buyer, with Elon Musk considered a wild card. The company’s stock has lost over half its value in the past year, but recent gains suggest investors are betting on change.
Citi analysts cited Broadcom as “the most likely company” to acquire Intel, citing concerns about selling the struggling foundry business, which could be against US government interests. Qualcomm and JPMorgan have also been mentioned as potential buyers. Musk’s interest in Intel’s foundry arm has sparked speculation, given Tesla’s and SpaceX’s chip needs.
Intel is valued in the tens of billions, but its stock has plummeted by over 50% since last year. The latest gains may signal investors are anticipating a merger or acquisition in light of CEO Pat Gelsinger’s retirement late last year.
Source: https://www.investopedia.com/intel-stock-rises-as-rivals-eye-takeover-8777897