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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 217.53

+1.5%

Nov 28 9:30 AM EST

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From: Mahmoud Mohammed	4/21/2016 3:53:35 PM
	of 275872

Ouch: Qualcomm Might Finally Lose Its Clutch on the iPhone "Stop me if you've heard this one before. For years, Intel (NASDAQ:INTC) has been trying its darnedest to win back a spot in Apple's (NASDAQ:AAPL) iPhone. Qualcomm (NASDAQ:QCOM) grabbed the all-important cellular baseband design win back in 2011 with the iPhone 4s -- a cushy slot that the mobile chip giant has exclusively enjoyed ever since. The funny thing was that Qualcomm was displacing Infineon, which Intel had just acquired. So Intel technically was in the iPhone for a very brief period of time via Infineon. Apple just ditched Intel almost immediately after the acquisition. You've probably heard plenty of rumors and speculation from Street analysts about Intel possibly winning back the Mac maker with its XMM 7360 LTE modem. Well, investors now have the closest thing to possible confirmation, directly from Qualcomm itself. "Is it OK if we see other people, too?" Following a "meh" earnings report last night, CEO Steve Mollenkopf fielded analyst questions on the customary conference call. When asked about the possibility of "second sourcing at large customers," Mollenkopf acknowledged: On the second sourcing, I think the main point is that we have been assuming that in our plans for, really since the beginning of when we did our restructuring. Difficult for me to talk about timing related to that, but I think the point we wanted to communicate is that we are assuming for planning purposes that, that is the case and even with that, we are comfortable with our margin targets and our improving financials in the chip business in the second half. Translation: Qualcomm has been quietly preparing itself for a day when Apple starts buying modems off Intel, too." fool.com Mahmoud

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