Intel, Which Cratered Around 77% From Its 52-Week Peak, Finds A New Knight In Shining Armor As Qualcomm And Apollo Propose Buyout Deal, But This Analyst Thinks It Doesn't Make Sense: 'It Seems Very Risky To Us Given Uncertain Returns'
Intel, Which Cratered Around 77% From Its 52-Week Peak, Finds A New Knight In Shining Armor As Qualcomm And Apollo Propose Buyout Deal, But This Analyst Thinks It Doesn't Make Sense: 'It Seems Very Risky To Us Given Uncertain Returns'
However, Qualcomm Inc. (NASDAQ:QCOM) is reportedly considering a buyout of Intel Corp. (NASDAQ:INTC), a move that could significantly diversify Qualcomm's product offering. However, analysts are warning of potential challenges that could hinder the success of this acquisition.
據報道，高通公司（納斯達克：QCOM）正在考慮收購英特爾公司（納斯達克：INTC），這一舉動可能會顯著擴大高通的產品線。然而，分析師們警告稱，可能會面臨潛在挑戰，可能會阻礙此次收購的成功。
What Happened: Qualcomm's interest in acquiring Intel has been met with skepticism from analysts, reported Business Insider. The potential deal, which could help Qualcomm expand, is seen as a risky move due to Intel's struggling semiconductor manufacturing unit.
發生了什麼：高通對收購英特爾的興趣遭到了分析師的懷疑，據彭博社報道。這筆潛在的交易可能幫助高通擴張，但由於英特爾旗下半導體制造業務陷入困境，此舉被視爲一項風險舉動。
Intel's shares have plummeted approximately 77% from their 52-week high, making the company an attractive target not just for Qualcomm but also for Apollo Global Management (NYSE:APO), which reportedly proposed to make an equity-like investment of up to $5 billion in the company.
英特爾的股價已經從52周高點暴跌了約77％，這使得該公司不僅成爲高通的吸引目標，也吸引了阿波羅全球管理（紐交所：APO）的關注，後者據稱提議對該公司進行最高5億美元的類股權投資。
However, Stacy Rasgon, a prominent chip analyst from Bernstein, expressed skepticism about the potential deal. "We would prefer that Qualcomm not pursue this as it seems very risky to us given uncertain returns," Rasgon and his team wrote.
然而，伯恩斯坦公司的著名芯片分析師斯泰西•拉斯貢（Stacy Rasgon）對這樁潛在交易表示懷疑。「我們認爲高通最好不要追求這筆交易，因爲在我們看來，這似乎非常冒險，回報不確定，」拉斯貢及其團隊寫道。
Qualcomm aims to diversify its revenue streams by entering the PC and data center markets, which Intel dominates. However, Intel's semiconductor factories, or fabs, pose significant challenges. Rasgon noted that Intel has struggled to manage its fabs, allowing competitors like TSMC to gain an edge.
高通希望通過進入力圖主導的PC和idc概念市場來實現營業收入多元化，但英特爾的半導體工廠或廠房帶來了巨大挑戰。拉斯貢指出，英特爾在管理其半導體工廠上遇到困難，使得像台積電這樣的競爭對手獲得了優勢。
Rasgon also highlighted the political importance of Intel's U.S.-based fabs in Arizona, Oregon, and New Mexico. He speculated that Qualcomm might sell these fabs if the acquisition goes through, but questioned whether Intel is desperate enough to consider such a move.
拉斯貢還強調了英特爾位於亞利桑那州、奧勒岡州和新墨西哥州的idc概念的政治重要性。他推測，如果收購成功，高通可能會出售這些廠房，但質疑英特爾是否絕望到考慮此舉。
"Is Intel desperate enough to seriously consider something like this? We're not so sure," Rasgon and his team concluded.
「英特爾是否絕望到認真考慮這樣的事情呢？我們不太確定，」拉斯貢及其團隊得出結論。
Why It Matters: The potential acquisition of Intel by Qualcomm could face significant hurdles, according to analysts. The deal could reportedly encounter rigorous antitrust scrutiny globally, given that it would merge two major chip firms. This could create a giant with significant market shares in smartphones, PCs, and servers.
重要性何在：據分析師稱，高通收購英特爾可能面臨重重阻礙。該交易據報道將在全球遭遇嚴格的反壟斷審查，因爲這將使兩家主要芯片公司合併。這可能會造成一個在智能手機、PC和服務器市場佔有重要市場份額的巨頭。
Benchmark analyst Cody Acree said the acquisition is "logically unlikely." According to Acree, Qualcomm would need to offer a compelling 40% to 50% premium over the current trading price of around $22 for shareholders to take the deal seriously. However, the regulatory scrutiny surrounding the transaction may be too difficult to overcome.
基準分析師科迪·埃克里（Cody Acree）表示，這項收購「從邏輯上看是不太可能的。」 根據埃克里的說法，高通需要向股東提供一個有力的、比當前股價約22美元高出40%至50%的溢價，以便讓股東認真對待這筆交易。然而，圍繞該交易的監管審查可能過於困難。
Meanwhile, Intel has been facing its own challenges, with CEO Pat Gelsinger presenting a comprehensive plan to the board in September. The plan focuses on asset sales and cost reductions, including halting a $32 billion project in Germany.
與此同時，英特爾正面臨着自己的挑戰，CEO帕特·蓋爾辛格（Pat Gelsinger）在9月向董事會提交了一項全面計劃。該計劃側重於資產出售和成本削減，包括停止在德國一項320億美元的項目。
If the Qualcomm-Intel deal goes through, it could result in one of the largest M&A deals ever, surpassing Microsoft Corporation's $69 billion acquisition of Activision Blizzard.
如果高通-英特爾交易成功，它可能成爲有史以來最大的併購交易之一，超過微軟公司以690億美元收購動視暴雪。
Price Action: Intel's shares closed 3.3% higher on Monday at $22.56, while Qualcomm's shares closed 1.75% lower at $165.96, according to Benzinga Pro data.
股價走勢: 英特爾的股價週一收漲3.3%，報22.56美元，而高通的股價收跌1.75%，報165.96美元，據彭博專業數據顯示。
Image via Shutterstock
圖片來自shutterstock。
譯文內容由第三人軟體翻譯。