Apple and Intel Could Be Going Into Business Together. Which Is the Better Buy?
Both tech giants are trading at premium valuations.
Overview
Apple (NASDAQ: AAPL) and Intel (NASDAQ: INTC) could be getting back into business together, at least according to a June 18 social media post from President Donald Trump. The deal, which neither company has publicly confirmed yet, would give Apple another manufacturer for its in-house designed chips, diversifying its supply chain. For Intel, it would be another much-needed win for its foundry business.
Intel's stock popped significantly on the news, as this will be a much bigger deal for the chipmaker than it is for Apple. However, as of the close of trading on Thursday, the stock was back to about where it closed on June 17.
Details
Intel stock has been a better performer than Apple over the past year, rising dramatically as signs of a long-hoped-for turnaround have emerged. But between the two tech companies, which looks like the better stock to buy from here?
Source
Originally published at www.fool.com.