Apollo wants to invest $5 billion in Intel!
It was recently reported that investment giant Apollo (APO) plans to invest $5 billion in Intel (INTC) as part of the company's M&A strategy.
This came after reports that Qualcomm (QCOM) wants to acquire Intel, although it is hard to believe regulators would approve it.
It appears that with a stock price around $20, many companies jumped at the opportunity to buy – what looks like an institutional bottom for the company's stock.
On a technical level? It seems Intel may have found a bottom – and if it breaks above the 50-day moving average (blue), there is a possibility it will close the gap at $28.8 per share.
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