Intel Receives EU Approval for Memory Units Sales!

  Intel Receives EU Approval for Memory Units Sales! US-based technology company Intel and South Korea-based semiconductor manufacturer SK Hynix received approval from the EU for the sale of Memory Units. Thus, companies that received EU approval came closer to completing their memory and storage procedures. Intel INTC (NasdaqGS) $56.96 +0.88(+1.57%) agreed to sell NAND, the most common type of flash memory brand used in storage devices such as USB flash cards, to SK Hynix for $ 9 billion in October 2020. The agreement, which was already ratified in the USA, has now been ratified in the EU. SK Hynix 000660.KS (KSE) ₩123,000.00 +3,500.00(+2.93%) stated in a press release that the EU has ratified the agreement without adding any conditions. Companies waiting for approval from other countries before closing the transaction are hoping to get the approvals this year. Thinking Intel will increase its expertise by purchasing the memory unit, SK Hynix believes it will offer its customers a breakthrough memory product.

US-based technology company Intel and South Korea-based semiconductor manufacturer SK Hynix received approval from the EU for the sale of Memory Units.

(INCTC) allowed SK Hynix to pay the memory unit purchase in two stages. The initial payment will be $ 7 billion and the remaining $ 2 billion will be paid in 2025 with the final closing. The memory unit sale is expected to allow Intel to invest in long-term growth priorities. Northland Securities analyst Gus Richard reiterated the selling rating for Intel shares with a price target of $ 42. Richard's price target points to 25.11 % negative potential from the current price. In a statement on the subject, Richard said, "INTC is not dead, it has only been seriously injured in the last few decades from self-injury. And He continued  also in the form “our opinion this is a situation that can be corrected. “  

Source: www.smarteranalyst.com

 

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