Amid a continued Wall Street revaluation of Apple shares, rumors continue to circulate about a deal in which Intel will make chips for the company's iPhone and iPad.
According to Reuters, Intel has spoken to Apple about manufacturing chips for Apple's iPhone and iPad as part of its burgeoning, foundry business. Intel's x86 chips would not be inside the iPhone or iPad, but rather Intel would manufacture the A-series chips for Apple, as opposed to Samsung, from which Apple is trying to distance itself.
Speculation also re-emerged on whether Apple will enter the market for music streaming services, even if it doesn't venture out on its own.
Apple reportedly was interested in starting its own streaming service, to compete with the likes of Pandora Radio, and although nothing has come to market, Apple's still thinking about the industry.The company's CEO Tim Cook met with Beats Electronics CEO Jimmy Iovine during a visit to Los Angeles last month, according to Reuters. The two executives discussed Beats' "Project Daisy," a music subscription service the audio technology company announced earlier this year, according to three people familiar with the situation. Also involved in the meeting was Eddy Cue, Apple's senior vice president of Internet Software and Services, who is largely responsible for the iTunes Music Store, according to the report. Interest in what Apple will do with the iWatch is also increasing by the day. Citing people familiar with Apple's plans, Bloomberg reported the Apple-branded watch could arrive in 2013. According to the report, Apple has filed at least 79 patent applications which have the word "wrist" in it, including one for two-way communication of location data between a portable media device and an accessory. This patent allows media to be transferred between devices using GPS data with a separate accessory. Apple shares closed the week up slightly to finish Friday's session at $431.72. The company's shares have fallen nearly 20% in 2013. It was a busy week for Dell (DELL) in its ongoing plan to be taken private by founder Michael Dell and private equity firm Silver Lake Partners. The struggling PC-maker now has to face activist investor Carl Icahn, amid what increasingly appears to be a shareholder revolt against the company's plans to pay investors $13.65 a share to become private. After taking a reported $1 billion-plus stake in Dell shares, Icahn said in a letter to the company's board of directors that he will propose a debt-financed $9-a-share dividend instead of the company's proposed $24.4 billion takeover, which he will vote against. In his letter, Icahn indicated he's ready to start a proxy battle between Dell and many of its shareholders, who increasingly are in opposition to the takeover offer. Icahn said his holding company, Icahn Enterprises, is willing to commit $2 billion to a bridge loan to finance the special dividend he's recommending for Dell. The billionaire activist said he's willing to commit a further $3.25 billion in financing for the dividend. On Wednesday, Dell defended the proposed take-private deal and outlined why it thinks the bidding process has served shareholder interests so far. Dell shares rose over 1% for the week, closing at $14.16. Friday's close represents a premium to the company's takeover offer as it currently stands.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV