Photo: Alex Tai/SOPA Images/LightRocket/Getty Images

Apple is reportedly once again in talks with Intel to buy the company's troubled cellular modem business for around $1 billion.

Why it matters: Although Apple recently settled its legal dispute with Qualcomm, the company is widely believed to be interested in developing its own modem capabilities internally and has already hired people from both chipmakers, including at a new office in San Diego.

  • Such a transaction could give Apple access to both patents and the specialized workers needed to eventually design its own modem chips for the iPhone.
  • The Wall Street Journal reported on Monday that the talks are advanced and a deal could come this week.

Between the lines: Intel is in something of a bind. Apple is really the only big customer for standalone cellular modems, but its deal with Qualcomm likely means Intel's business will dry up.

  • That helps explain why, the day Apple and Qualcomm announced their settlement, Intel said it would cancel planned 5G modem chips and re-evaluate the business.

Our thought bubble: It's hard to imagine anyone other than Apple being interested in acquiring the business. The only other likely outcome — Intel shutting the unit — would have downsides for both companies.

  • Intel, of course, would get no return on its expensive investment. Apple could still hire people, but it would have to do so one by one, and it wouldn't get Intel's patents.

Go deeper: What Apple knows about you

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The TikTok deal's for-show provisions and flimsy foundations

Illustration: Aïda Amer/Axios

The new deal to rescue TikTok from a threatened U.S. ban — full of provisions aimed at creating the temporary appearance of a presidential win — looks like a sort of Potemkin village agreement.

How it works: Potemkin villages were fake-storefront towns stood up to impress a visiting czar and dignitaries. When the visitors left, the stage set got struck.

  • Similarly, many elements of this plan look hastily erected and easily abandoned once the spotlight moves on.
50 mins ago - Technology

Over 3 million U.S. voters have already registered on social media

Illustration: Eniola Odetunde/Axios

An estimated 2.5 million+ Americans have registered to vote on Facebook, Instagram, and Messenger, Facebook announced Monday. More than 733,000 Americans have registered to vote so far via Snapchat.

Why it matters: The broad reach of social media platforms makes them uniquely effective at engaging voters — especially younger voters who may not know how to register to vote or be civically engaged.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street: Recession is over

Illustration: Aïda Amer/Axios

U.S. economic activity fell more sharply in the second quarter of this year than during any other quarter in history. It's also going to grow more sharply in the third quarter of this year than during any other quarter in history.

  • The recession is over, according to Wall Street, with current forecasts showing sustained economic growth through 2021 and beyond.