Wells skeptical, would consider a potential Intel separation/sale as positive

Wells Fargo analyst Aaron Rakers notes the holiday weekend was filled with an abundance of media reports debating whether a TSMC (TSM) plus Broadcom (AVGO) takeover via separation of Intel (INTC) would be possible and/or feasible. The firm is skeptical, but would consider a potential move as a positive. In the event that some type of transaction or strategic separation were to transpire, the key question is whether Intel management can extract a break-down value greater than Intel’s current $125B enterprise value, Wells says.