Intel Doesn’t Need a Takeover. It Needs a Turnaround.
Qualcomm’s window-shopping for a distressed rival is just a distraction to the CEO’s superior strategy.
Intel CEO Pat Gelsinger’s time is best spent executing his strategy.
Photographer: Annabelle Chih/Bloomberg
They say if there’s ever a Silicon Valley Mount Rushmore, the first face to be chiseled into the stone would be that of Gordon Moore. The Intel Corp. co-founder’s famous prediction about the rate at which semiconductors would improve has provided the bedrock to American technology leadership.
Such sentimentality around Intel and its unparalleled contribution to the computing revolution is what makes any suggestion of a takeover a huge story. The approach by Qualcomm Inc., reported late last week, comes as Intel faces the toughest period in its 56-year history. In its weakened state — shares are down 53% this year — it is vulnerable to the disruptive effects of window-shopping by rivals that are currently more prosperous.