Intel stock soars 5% after announcing the $1 billion sale of its smartphone modem business to Apple and reporting numbers that crushed Wall Street estimates

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Intel stock soars 5% after announcing the $1 billion sale of its smartphone modem business to Apple and reporting numbers that crushed Wall Street estimates
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Intel is flying high after announcing a big $1 billion deal with Apple that will see it finally get out of the smartphone component business.

Intel said Apple is buying its smartphone modem chip business for $1 billion. Intel shares were rallying after the chip giant reported better-than-expected results, including a strong outlook. Visit Business Insider's homepage for more stories Intel shares rallied more than 5% late Thursday after the company said Apple was buying its smartphone modem chip business for $1 billion. The company also reported second quarter results and a forecast that exceeded Wall Street expectations.

Intel said Apple is buying its smartphone modem chip business for $1 billion. Intel shares were rallying after the chip giant reported better-than-expected results, including a strong outlook. Visit Business Insider's homepage for more stories Intel shares rallied more than 5% late Thursday after the company said Apple was buying its smartphone modem chip business for $1 billion. The company also reported second quarter results and a forecast that exceeded Wall Street expectations.

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