Intel announced its acquisition of McAfee for $7.68 billion in cash a few days ago. Rising market share for McAfee’s enterprise security software, as opposed to a flat forecast by Trefis, could push up the Trefis estimate for McAfee’s intrinsic value by around 11%. We estimate that security software for businesses accounts for around one-third of McAfee’s value.
Trefis members have created forecasts for two key drivers of McAfee’s stock over the last week: (1) McAfee Share in Security Software for Businesses Market and (2) McAfee Share in Antivirus & Security Software Market. The member forecasts suggest that McAfee Share in Security Software for Businesses Market will trend higher than the estimates of the in-house team of analysts at Trefis, while McAfee Share in Antivirus & Security Software Market will trend in-line.
McAfee competes with Symantec and TrendMicro in the enterprise as well as consumer antivirus market. We currently have a Trefis price estimate of around $32 for McAfee’s stock, about 31% below the current market price of around $47.
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