Qualcomm reportedly approached Intel about a takeover. Analysts say they could face political scrutiny and 'little overlap.' [Business Insider]
GlobalFoundries Inc. (GFS)
Company Research
Source: Business Insider
Intel has faced a decline in its valuation, and it plans to lay off 15,000 staff members. The chip giant Intel could be at a crossroads as it figures out its next steps amid its declining valuation and struggling business. Chip and wireless communications competitor Qualcomm approached Intel about a takeover deal, the Wall Street Journal reported Friday. And on Monday, Intel CEO Pat Gelsinger sent out an email announcing " the next phase of Intel's transformation ," which included the creation of an independent subsidiary for its foundries and expanded business with Amazon. Intel also plans to lay off 15,000 staff. Founded in 1968, Intel has been an American staple for the design of computer parts but has faced a decline over the past few years. A potential Qualcomm takeover could infuse some cash, but chip industry analysts say this would also raise antitrust scrutiny and execution challenges in the current political environment. Despite having little overlap between Qualcomm'
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GFS
Earnings
- 8/6/24 - Beat
GFS
Sec Filings
- 9/9/24 - Form 6-K
- 8/7/24 - Form 144
- 8/6/24 - Form 6-K
- GFS's page on the SEC website