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HomeBusinessIntel and Apollo Partnership, Deutsche Bank Comments

Intel and Apollo Partnership, Deutsche Bank Comments

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Deutsche Bank analysts maintained their Hold rating and a $38 price target on Intel (NASDAQ:INTC), commenting on recent reports from the Wall Street Journal about a potential deal between Intel and Apollo, involving an investment of up to $11 billion for a facility in Ireland.
According to the report, Apollo is the frontrunner among other potential partners, with an announcement expected in the coming weeks. Following the report, Intel shares gained around 3% intra-day today.
The analysts noted that while they cannot verify the accuracy of this report, the strategy aligns with Intel’s previous management discussions about forming partnerships to access private capital. They referenced Intel’s earlier Semiconductor Co-Investment Program (SCIP), which included a $30 billion partnership with Brookfield for its Arizona fabrication plant in August 2022. The analysts acknowledged the short-term benefits of such deals for Intel, particularly as they provide alternative funding sources at potentially favorable capital costs. However, they also highlighted that these types of arrangements could dilute Intel’s long-term returns.

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