- TF International Securities analyst Ming-Chi Kuo tweeted that Apple Inc AAPL will retain Qualcomm Inc's QCOM chips in next-generation iPhones after Apple possibly faced issues with its chips.
- Her latest survey indicates that Apple's iPhone 5G modem chip development may have failed.
- Therefore, Qualcomm will remain the exclusive supplier for 5G chips of 2H23 new iPhones, with a 100% supply share, up from the previous estimate of 20%.
- Also Read: Piper Sandler Lists Reasons Behind Its Optimistic View On Qualcomm
- She expected Qualcomm's revenue and EPS in 2H23-1H24 to beat market consensus due to its sole supplier position for 5G chips of 2H23 new iPhones as Qualcomm remains irreplaceable.
- She believes Apple will continue to develop its own 5G chips.
- However, by the time Apple replaces Qualcomm, Qualcomm's other new businesses should have grown enough to significantly offset the negative impacts caused by the order loss of iPhone 5G chips.
- The Supreme Court recently overruled Apple's bid to revive its patent dispute with Qualcomm.
- Price Action: QCOM shares traded higher by 3.55% at $131.69 on the last check Tuesday.
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