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Why Jim Cramer Has a Problem with the Apple, Intel Story

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Apple (AAPL) - Get Apple Inc. Report is reportedly interested in buying Intel's (INTC) - Get Intel Corporation Report smartphone-modem chip business for around $1 billion.

The news broke Monday night after the markets had closed.

And yet, Cramer isn't so sure that an acquisition is on the table. Instead, Cramer thinks that the deal may be more geared towards patents.

"I'm trying to find out the story, and prove it. And then what happens is well, you know, maybe they bought the patents, but you know, Intel should have paid up for it. Anything that Apple can do to take control of its supply chains, they are going to try to do," explained Cramer. 

Cramer continued, "I don't think it's real. I think that they just made some sort of patent deal. You know, I don't like that story. It might be very small patent deal. I mean to me I prefer things like American Express (AXP) - Get American Express Company Report down three I told you to buy it, remember on Friday. I like to do stories like that, not buy Intel off of this. Intel's going up, but that's because of the SMH (SMH) - Get VanEck Vectors Semiconductor ETF Report . Remember all the semis are connected by ETFs. It's really a shame because Texas Instruments (TXN) - Get Texas Instruments Incorporated Report is now up to so much, they'd better say the right thing [Tuesday night]."

Related. Jim Cramer: Make Up Your Own Mind, Don't Listen to Market 'Gurus'

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