@taskmaster4450le's thread
Intel pops 16% for best day since March 2020 on potential breakup
Intel shares rallied 16% on Tuesday on a report that deals from Broadcom and Taiwan Semiconductor Manufacturing could break up the company.
Intel shares rallied 16.1% on Tuesday following a Wall Street Journal report that both Broadcom and Taiwan Semiconductor Manufacturing are potentially weighing bids that could result in splitting the embattled chipmaker.
The stock closed at $27.39 and notched its best day since March 2020.
The Wall Street Journal reported that Broadcom may consider a play for the company's chip design and marketing segment, citing people familiar with the matter, while TSMC is interested in a stake or complete control of Intel's factories. The companies have not filed bids and talks are largely informal, the Journal reported.
