Intel (INTC) and Cisco (CSCO) Working on “First of a Kind Deal” Foundry Deal

According to a report by analysts at Piper Jaffray, Intel (Nasdaq: INTC) and Cisco (Nasdaq: CSCO) might form a foundry partnership. The partnership would create a direct OEM foundry that would supply Cisco with custom silicon.

Piper analysts think the deal could be worth $1 billion to Intel, and would be a “first-of-a-kind deal”.

Piper Jaffray has a Neutral rating on Intel with a $22 price target.

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $23.15 yesterday.

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