One fund manager sees “more cons than pros” if the companies were to combine, after the Wall Street Journal reported that Qualcomm approached Intel about a possible deal.

Intel, once the world’s largest chipmaker, has been struggling with flagging sales and mounting losses — exacerbated by the loss of its technological edge.

It seems that Qualcomm sees Intel’s struggling business as a potential opportunity. The San Diego-based chipmaker has reportedly expressed an interest in taking over Intel “in recent days,” according to a new report in The Wall Street Journal.

Shares of Intel Corp. INTC advanced 3.31% to $21.84 Friday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average DJIA rising 0.09% to 42,

Patrick Moorhead, Moor Insights & Strategy CEO, joins 'Closing Bell Overtime' to talk recent reports that Qualcomm approached Intel about a takeover.

Intel stock surged late Friday after The Wall Street Journal reported that Qualcomm had approached Intel about a takeover in recent days. The Journal story cited people familiar with the situation. Intel and Qualcomm didn’t immediately respond to a request for comment on the report.