Then came a tweet from the often-well-placed Dylan Patel of SemiAnalysis that mentioned Intel, Musk, GlobalFoundries and Qualcomm. It wasn't clear if the Tesla, SpaceX and X boss, and presidential influencer with a White House pass, might be a suitor or an intermediary in talks.

A Bernstein analyst recommends avoiding Intel’s stock as takeover rumors have the potential to drive a rally, though “it doesn’t feel like a long either.”

Key Takeaways Intel shares added to recent gains Tuesday following a report last week that the company could be a takeover target. Rival chipmaker Broadcom is the most likely buyer, some analysts said,