Qualcomm (Nasdaq: QCOMShares rose nearly 4% on Friday as the broader market rose, as the influential analyst called the San Diego-based chip company Apple’s “biggest winner.”NASDAQ: AAPL) reportedly Cancel the next version of iPhone SE.
TF International Securities analyst Ming-Chi Kuo said Friday that Qualcomm (QCOM) is likely to remain the “exclusive supplier” of baseband chips for the iPhone 16 series due in 2024. . AAPL) next year.
“Because of concerns that the performance of its in-house baseband chip could not match Qualcomm’s, Apple initially decided to launch a baseband chip in 2024 and let the low-end iPhone SE 4 adopt it first. We were planning to decide whether to let the iPhone 16 use the baseband chip depending on how the iPhone SE 4 develops,” Kuo wrote in a blog post.
“However, the cancellation of the iPhone SE 4 has significantly increased the likelihood that Qualcomm will remain the exclusive baseband chip supplier for 2H24’s new iPhone 16 series. Better than the market consensus to start,” added Kuo.
Last month, Kuo suggested that Apple (AAPL) had canceled the iPhone SE 4 due to weak demand.
There was hope that Apple (AAPL) would introduce its own 5G chip next year.
Kuo also said Qualcomm (QCOM) is likely to continue to dominate the high-end radio frequency market for mobile phones this year and next, resulting in “significantly higher profits” than its competitors. said.
Analysts also noted that Qualcomm’s (QCOM) product mix should help mitigate potential recessionary drag and return to “solid growth” in a recovery.
On Thursday, Qualcomm (QCOM) announced Snapdragon Satellite, a satellite-based two-way messaging solution for high-end Android phones.