Wall Street Journal reported on Monday, Apple Inc. is in advanced talks to buy chipmaker Intel Corp’s smartphone-modem chip business.
According to the WSJ, the agreement, valued at $ 1 billion or more, could be concluded next week. The Journal had reported in the same month that Intel was exploring a sale for its modem chip business to Apple or another acquirer.
Intel announced plans to leave the 5G modem chip business in April, a few hours after resolving a dispute between Apple and Qualcomm Inc., a key provider of iPhone modem chips.
Intel shares rose 1.5% to $ 52.10, while Apple shares rose slightly. Qualcomm shares were down about 2% in the report.
Intel is expected to report second-quarter results on July 25, while Apple is scheduled to report its third-quarter earnings on July 30.
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