Qualcomm (QCOM): Apple Not Developing Basebands, Says Analyst
- Fed to Remain Sitting on Their Hands in September - Goldman Sachs
- Emera to Acquire TECO Energy (TE) for $27.55/Share
- Wall Street caps off tough week with a steep loss
- Amazon Web Services (AMZN) Enters Agreement to Acquire Elemental Technologies
- Apple (AAPL) Stock Down Into iPhone Event for First Time Since Original Released - Analyst
"There has been recent speculation in the press about Apple developing their own baseband chipset (digitimes, April 7). We dismissed this early, and felt most others would as well given the herculean task of building a multimode baseband from scratch. As most who follow the wireless industry understand, building a multi-mode baseband is not about R&D dollars," said Modoff .
"Sure dollars will help, but it also takes time, at least five years by our count, top-notch talent leading the effort and about 1000 engineers in total – well short of the 30 positions Apple currently has posted. Instead of an organic baseband development, we believe Apple is rather trying to realize better integration with existing baseband chipsets and their apps processor, or possibly developing their own internal WiFi chipset. We reiterate our Buy on Qualcomm, as we do not feel that this recent press report affects Qualcomm’s long term prospects," he added.
Shares of Qualcomm closed at $78.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Qualcomm (QCOM) Said to Be Exploring Sale of Vuforia Augmented Reality Unit - re/code
- UBS Cuts Price Target on Infoblox (BLOX) to $22 Following 4Q EPS Beat
- Canaccord Genuity Cuts Price Target on Esterline Technologies (ESL) Following 9c EPS Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Rumors
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!