KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Apple’s Buyback Firepower
Reports that Intel Corp. (NASDAQ: INTC) has approached Apple Inc. (NASDAQ: AAPL) about a possible investment have sparked debate among analysts. While such a deal could give Intel a much-needed endorsement, Bernstein analysts argue Apple’s cash is better deployed in its share repurchase program, which remains the largest in the market.
Apple is projected to spend US$92 billion on buybacks in its current fiscal year, according to FactSet, following US$95 billion last year. The company consistently boosts its authorization at record levels, with Birinyi Associates data showing Apple has announced the six largest buyback programs in U.S. history.
“Without obvious benefits to Apple, we would far prefer the company to buy back its own shares versus buying Intel shares,” Bernstein wrote in a client note.
Why Intel Is Seeking Partners
Intel has been actively lining up investors as part of its turnaround strategy, with recent backing from the U.S. government, Nvidia’s US$5 billion investment, and SoftBank. According to Bloomberg, Apple and Intel have discussed both financial and strategic collaboration, though talks are still preliminary.
Intel CEO Lip-Bu Tan is focused on strengthening U.S. chipmaking capacity in line with the Trump administration’s agenda. Still, analysts argue Intel’s challenge is not funding, but its technological competitiveness. Without meaningful improvements, Intel could struggle to attract enough volume to fill its advanced fabs.
What’s at Stake for Apple
For Apple, analysts say there is little strategic upside unless Intel can offer a reliable alternative source of leading-edge chip manufacturing. Otherwise, buybacks offer a clearer path to boost earnings per share, return capital to investors, and signal confidence in Apple’s own valuation.
Some analysts speculate that an Intel investment could serve more of a political purpose, helping Apple stay aligned with U.S. policy priorities on domestic chip production and tariff avoidance.
Bottom Line
Intel’s pitch: Secure Apple as a high-profile investor and potential manufacturing partner.
Analysts’ view: Apple is better off sticking with buybacks unless Intel proves its technological edge.
Political angle: Supporting Intel may curry favor with the administration, potentially influencing future trade and regulatory policies.
Apple shares rose 1.81%, while Intel jumped 8.87% on Wednesday following reports of the talks.
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