Intel (NASDAQ:INTC) is looking to establish itself in the foundry business, which is relatively new for the company. One recent development in this regard is that Intel is angling for Apple?s (NASDAQ:AAPL) business, which is looking for alternatives to Samsung. Below we take a quick look at how this could play out. Intel competes with Advanced Micro Devices (NYSE:AMD) and Nvidia (NASDAQ:NVDA) in the microprocessor and graphics businesses.
Our price estimate for Intel stands at $28.68, a roughly 25% premium to market price.
Intel?s Opportunity, But a Word of Caution
Intel is competing with Samsung and TSMC to get a contract for manufacturing some of Apple?s chips. Intel will look to take advantage of deteriorating relationship between Apple and Samsung as Apple recently filed a lawsuit against Samsung accusing the company of violating its intellectual property regarding its smartphones and tablets. [1]
Though Intel supplies foundry to existing customers, Apple?s
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