Qualcomm (QCOM): Apple Not Developing Basebands, Says Analyst
- CDC confirms first Ebola case diagnosed in the U.S. (TKMR)
- Market Wrap: eBay to Unload PayPal; Ebola Confirmed in U.S.; Microsoft Reveals Next Key Product
- Angie's List (ANGI) Hires Bankers to Explore Possible Sale - FT
- Freddie Mac (FMCC), Fannie Mae (FNMA) investors suit against U.S. thrown out - Bloomberg
- After-Hours Stock Movers 9/30: (ANGI) (TKMR) (NLNK) Higher; (WPRT) (ASEI) (RGSE) Lower (more...)
"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.
You May Also Be Interested In
- UPDATE: Credit Suisse Downgrades Rush Enterprises Inc. (RUSHA) to Neutral
- Avago Technologies (AVGO) PT Raised to $95 at Nomura Securities
- Computer Sciences Corp. (CSC) Exploring LBO - Bloomberg
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!