Intel’s Retail Community Gets Fired Up On Merger Rumors As Stock Hits 6-Week High

Shares of Intel Corp. (INTC) ripped more than 7% in morning trade on Friday after reports suggested that the company is the target of acquisition.

According to a report by Semi Accurate, Intel could be acquired by a company as a whole and not just in parts, citing an email from unnamed sources.

The report also notes that the potential acquirer is not any company that has been in the news in the past, which rules out Qualcomm Inc. (QCOM).

The said email was reportedly read by Semi Accurate several months ago. It was also sent to close circle, which could lend more credibility to the rumor, according to the report.

It added that the potential acquirer also has the resources to acquire Intel as a whole, which currently has a market capitalization of $90.3 billion.

Retail sentiment on Stocktwits entered the ‘extremely bullish’ (94/100) territory from ‘bullish’ (56/100) a day ago. Message volume ripped higher to enter the ‘extremely high’ (75/100) zone.

Meanwhile, one user pointed out that the only reason Intel could be acquired is its foundries.

Intel’s share price has fallen more than 38% in the past six months, while its one-year performance is worse, with a decline of nearly 54%.

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