Apple may keep using Qualcomm modem chip after potentially failing with its own: analyst - 29 iunie 2022
TF International Securities analyst Ming-Chi Kuo tweeted on Tuesday that his latest survey indicates that Apple (US.AAPL) was not successful with its development to replace Qualcomm (QCOM) and instead of using its own chips for modems, it will use Qualcomm for 100% of its supplies, compared to Qualcomm's (US.QCOM) own previous estimates of 20%.
The implications for Qualcomm are positive, in that Kuo estimates the San Diego-based tech company will "likely" beat Wall Street's estimates for the second half of 2023 and first of 2024 for both revenue and earnings.
Kuo added that he believes Apple will continue to develop its own 5G chips, but once it is successful enough, Qualcomm should not be impacted, given its other businesses will likely have grown enough to "significantly offset" the negative impact from the loss.
Qualcomm shares rose more than 5% after an influential analyst said that the San Diego. .AMD (US.AMD) fell more than 6% after the company said it was looking into a claim by cyberterrorist group RansomHouse that it illegally obtained 450 GB worth of data.
AMD and Nvidia (US.NVDA), which saw its shares fall nearly 5%, were also both weighed down on concerns over declining GPU prices and sales.
Santa Clara, California-based Intel (US.INL) shares fell slightly more than 1% on Tuesday, though several other semiconductor companies, including Analog Devices (US.ADI), Micron Technology (US.MU) and Broadcom (US.AVGO) each fell less than 1%.
Chip equipment makers, including Applied Materials (US.AMAT), Lam Research (US.LRCX) and KLA Corp. (US.KLAC) saw their shares fall between 1.5% and 2.5% as investment firm UBS cut earnings estimates and price targets on the group, citing lower forecasts for the rest of the year and into 2023.