WSJ: Apple dropped plan to buy Intel’s modem biz

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From “Apple Held Talks With Intel About Buying Its Smartphone-Modem Chip Business” ($) in Saturday’s Wall Street Journal.

Apple Inc. held talks with Intel about acquiring parts of its smartphone-modem chip business, according to people familiar with the matter, a potential multibillion-dollar deal that would accelerate the iPhone maker’s efforts to develop wireless technology for its devices.

The talks started around last summer and continued for months before halting recently, around the time Apple reached a multiyear supply agreement for modems from Intel rival Qualcomm some of the people said…

The Intel-Apple talks, which haven’t been previously reported, reflect growing openness by the iPhone maker toward the idea of big acquisitions, people familiar with the company’s operations said.

My take: Why does it always have to be about Apple’s supposed appetite for big acquisitions? The company’s cash balance has been burning a hole in Wall Street’s pocket for as long as I can remember. No sign yet that Apple is taking the hint.