Key Takeaways Qualcomm reportedly came to Intel recently with interest in a potential takeover.Such a deal could offer a lifeline for Intel's foundry business and position Qualcomm as a dominant player in the PC processor market.

One analyst notes that Intel’s situation doesn’t seem dire enough for the company to settle for a “fire sale.” Plus, Qualcomm could see Intel’s foundry assets as a headache.

After missing second-quarter earnings expectations and seeing its stock fall over 50% so far this year, Intel (INTC) is still attracting interest worth billions of dollars.