Read Why Piper Sandler Lacks Conviction On Apple's In-House Chip Plans

Piper Sandler analyst Harsh Kumar is viewing with a "skeptical eye" the report of Apple Inc AAPL bringing wireless chip development in-house.
Kumar notes that radiofrequency "requires a ton of experience from a design and handling standpoint, as characteristics can vary significantly."
Kumar interprets the job postings on the Apple website to be more related to transceiver design and system architecture.
The analyst says dealing with complex RF technologies would require a "great level of understanding and many more job functions than currently posted."
Kumar does not believe it is fundamentally feasible to enter the market with few resources for at least a decade.
Kumar does not consider Apple's move a threat to RF players like Skyworks Solutions Inc SWKS and Qorvo Inc QRVO.
Kumar contends it could be Apple's play to "peel off the Qualcomm Inc QCOM business down the line."
It could also mark a situation under which Broadcom Inc AVGO and Apple "have decided to refocus their relationship in the future only on certain products."
Price Action: AAPL shares traded lower by 1.29% at $170.03 in the premarket session on the last check Friday.