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Apple wants to buy Intel smartphone chip unit


Apple Inc is in advanced talks to buy chipmaker Intel Corp’s smartphone-modem chip business. The iPhone maker is looking to acquire Intel's patent portfolio in a deal valued at $1 billion.

A deal could be announced as early as next week

Stocks impacted: Apple Inc. (AAPL), Intel Corp (INTC)

As a reminder, Intel announced back in April it was exiting the 5G mobile modem business earlier this year after Apple reached a settlement with Qualcomm that would see Apple once again return to using Qualcomm’s modems in its phones. For Apple, buying Intel's smartphone business would give it greater control over a key component used in its devices.

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