Qualcomm -2.8% as Apple mulls Intel modem purchase

|About: Apple Inc. (AAPL)|By:, SA News Editor

Bernstein cites reports of talks for Intel (NASDAQ:INTC) to sell its German smartphone business to Apple (NASDAQ:AAPL) and notes it would be a "reasonably cheap" move for Apple.

Analyst Stacy Rasgon writes the deal's eventual impact on Qualcomm (NASDAQ:QCOM) would depend on whether Apple can develop a viable solution on a suitable timeline.

In other Qualcomm news, Rasgon notes that new filings in the FTC case indicate the company is appealing and wants a stay of injunctive relief.

Qualcomm shares are down 2.8% pre-market. Intel and Apple shares are down 0.5%.

Subscribe for full text news in your inbox