160B is a lot of money.
But the main issue is that Apple has never bought a company they couldn't fully swallow. As in is eventually after a transition period only working to produce/manufacture/develop Apple products. Intel has a huge world wide business it would not make sense to just make chips for Macs. Even in Apple's possesion it would be an independent company that would make over 90% of its business outside of Apple. What is the point?
It is just not good business practice to invest so much outside of core strengh and business goals.
Apple is no faster at bringing products to market than anybody else. Look how long it took to finally arrive with a watch. They are only good at delivering a good execution at release.
The issues with 14nm and other semiconductor process would not be quicker resolved just because Apple holds stock.
If they want certain chips fast they can already ask Intel, who will gladly oblige if Apple pays the price. Lately Apple has just been to cheap to pay high prices. They would save some on the chips if they ownd Intel but since they would just loose that in profits as shareholder, it wouldn't really equate to much.
What Apple maybe could do is buy someone in the GPU business. They got their own CPUs but GPUs are fairly improtant too. On the otherhand GPU architectures are far more available from different manufacturers with very different architectures. Each architecture a bet of its own. If you can pick and choose why bet on one horse.
They make a SoC already and the CPU which previously only ARM really supplied not much to choose from one could say. But there are four big GPU suppliers (ARM Mali, Nvidia, Qual. Adreno, Im. PowerVR, someday maybe AMD) You can license three of those (I think Adreno is not up for graps).
Maybe they grab themselves some modem know how, like Samsung is doing. I think those are bought as seperate chips not licensed to be integrated into the SoC. Samsung wants a better integrated version like Qualcomm has. Don't know if there is anyone to buy that can provide or Samsung wouldn't build up inhouse.
Anyway my point is "Apple does not do business outside its core products." They swallow companies whole and don't buy a company when the product is more easily bought. If you buy you can choose, if you own you are stuck with what you guys build which might be a bet that does not work out.
Regardless of money or FTC buying Intel just makes no business sense.