Intel stock went up late Friday. This was after The Wall Street Journal said Qualcomm wanted to buy Intel. This news came from people close to the talks.
The Journal noted that a deal is not sure yet. It’s still in the early stages.
Intel didn’t say anything about the report. Qualcomm also didn’t comment right away.
Intel’s stock went up by 7% in after hours trading. Qualcomm’s shares dropped by 4.2%.
This year has been tough for Intel. Last month, its stock fell a lot. This was after Intel shared some bad news.
Intel cut 15,000 jobs and stopped its dividend. It also had disappointing earnings and weak future outlook.
Intel CEO Pat Gelsinger talked to Barron’s after the news. He said cutting jobs and stopping the dividend was hard but needed. He said Intel is focusing on being more efficient to meet its goals.