If you want to meet often, welcome to collect the star ~
Source: Content compiled from SeekingalPha, thank you.Seeking Alpha analyst this week, plannedAlthough the fourth quarter of fiscal year that is better than expected, the performance on Wall Street is still less than expected.
Qualcomm is the leader of the mobile phone and the cellular network connection industry. At present, it is a chip for Apples iPhone.SA analyst Lighting Rock Research wrote this week that the actions of the technology giant headquarters in Cubitino develop their own modem may have an impact of more than 1 billion US dollars.
Analysts pointed out: "From 26th to 28th fiscal year, Apple will gradually replace 5G modem.Rock Research estimates that if AAPL can replace 15% of chips per year, Qualcomms annual income will lose more than $ 1 billion.
"I still worry that Apple may turn to the internal 5G modem, which may bring significant growth challenges to Qualcomm," the analyst added that it reiterated the selling rating of QCOM."In my opinion, the stock price has not fully reflected the potential risk of losing Apples customer."
Sa Investing Group, James Foord, said that Apples measurement of internal chips was that Qualcomm was underestimatedThe main reason.The current expected price -earnings ratio of the company led by Cristiano Amon is about 15 times, and the industry is about 25 times.
Foord wrote: "The excess of Apples revenue is still inhibited for valuation" and lowered the share rating to sell.However, the analyst believes that Qualcomms diversified strategy is a highlight, and the market has not fully recognized this.
He wrote: "The discount on Apple seems to be a bit overgoing, and many investors seem to ignore QCOM indeed other customers and other meaningful increases of income, such as carsDepartment.Jeff Pu and Guo Mingchi, the technical research director of Haitong International Securities Group, have been rumored that Apples first independently developed 5G modem may appear in iPhone 17.Others believe that Apple will wait until Qualcomms patent expires in 2027, and their agreement with Qualcomms supplier will expire in March 2027.Having said that, Mark Gurmans Mark Gurman earlier still used Apples future modem as the focus of its technical communication.
Gulman wrote: "Apples hardware technology team is one of its biggest advantages.It can abandon Intels chip from its entire Mac product line.Excellent, helping Apple products stand out in terms of speed and battery efficiency.And battery.>
In other words, the focus of Apples customized silicon wafer work is to make the equipment run better and work better.) It is said that this has always been our goal.The strategy explained in an interview with CNBC last year.P ID = "35mapn6V"> However, the Srouji team is currently working hard to develop internal honeycomb modem, but at the beginning, there will be no big return.Eventually change the appearance and work of the iPhone.It can be said that it is the most important component of the main processor in the mobile phone, and it is not easy to create.P>
Different from other fields such as processors, AI engines and sensors, it is difficult to see what improvements have been improved by Qualcomm modem design.The actual combat test of the operator is very reliable.In the same CNBC interview, Sroogie acknowledged that the development of the modem was "extremely difficult".
But anyway, Apple is still working hard.It has invested billions of dollars, thousands of engineers and millions of hours of working hours for this project, but this project will not really improve its equipment -at least from the beginning.
Even insiders of Apple have acknowledged that customers do not really care about who made the modem in their mobile phones.The project will allow the company to claim that it has produced the most important iPhone component, which may be a marketing point.But the user experience will not change significantly.
In the past few years, Apples modem project has encountered countless setbacks.It has the problem of performance and overheating, and Apple is forced to postpone the release time of the modem to the earliest next year.The launch of the modem will gradually be carried out -starting from the small models -it takes a few years to complete.As a sign of a slow transition, Apple will extend the agreement with Qualcomms supplier to March 2027.
Save money is one of the reasons for this.Over the years, this iPhone manufacturer has been arguing that it has paid too much for the modem to pay too much.However, Qualcomm said that in any case, Apple still needs to pay some patent fees to it (the chip manufacturer believes that Apple cannot avoid infringing its patent).
Therefore, it is difficult to judge how much benefits will bring in the short term.In the future, Apple plans to integrate its modem design into a new wireless chip accessed by Wi-Fi and Bluetooth.This will create a single connection component, which may improve reliability and battery life.
Apple may also integrate all these functions into the main chip system (SOC) in the future.This can further reduce costs and save iPhones internal space, thereby providing more design options.In addition, if Apple finally saves funds by abandoning Qualcomm, it may turn this expenses to new features and components.
The best situation is that everything goes well, and most customers dont even know this change.However, the real value of the project will not be tested until a few years -Apple Hope can lay the foundation for a better iPhone.
Recommendation> Follow the global semiconductor industry movement and trend *Disclaimer: This article was originally created by the author.The content of the article is the authors personal point of view. The semiconductor industry observation and reprinting is only to convey a different view, which does not mean that the semiconductor industry observation agrees or supports this view. If there are any objections, please contact the semiconductor industry to observe. Today is the 3943 content shared by "Semiconductor Industry Observation" for you. Welcome to follow. "Semiconductor First Vertical Media" Real -time professional original depth Public account ID: icbank If you like us>
