Qualcomm Approaches Intel for Potential Takeover, Intel Shares Surge 8%, Qualcomm Drops 4.9%

Sep 20, 2024, 07:27 PM

Qualcomm has approached Intel about a potential takeover in recent days, according to reports from the Wall Street Journal and Dow Jones. Following the news, Intel shares surged nearly 8%, while Qualcomm shares dropped as much as 4.9%. Intel's stock was briefly halted due to the significant market reaction. The approach has sparked significant market reactions, with traders expressing mixed sentiments about the potential deal and various rumors circulating. Competitors such as Marvell, Broadcom, and NXP Semiconductors may benefit if Qualcomm diverts its focus to Intel. Intel has been struggling recently, which may have prompted the takeover approach.