Citi Would Look To Add To Qualcomm Positions, Calls Apple Report 'No Biggie'

Board, Electronics, Computer, Electrical Engineering

Citi analyst Christopher Danely said he expects upside to both results and guidance when Qualcomm (QCOM) reports earnings next month and he would look to add to positions on weakness in a note partially titled "Qualcomm Stock Down on Apple Trying to Do Its Own Modems. We Still Expect a Repeat of Samsung So No Biggie."

Bloomberg's report that Apple (AAPL) has started its internal cellular modem chip development for 5G is weighing on Qualcomm shares but he has written about Apple going internal before, noted Danely. He continues to think Apple will end up like Samsung (SSNLF), meaning that it will use its own modems for low to mid-range phones and keep Qualcomm for its high-end devices, added the analyst.

 

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Stock Fan 1 month ago Member's comment

I read all of #Apple accounts for 10% of #Qualcomm revenues. And QCOMM is adding new customers. And that’s IF Apple can make it successfully? I see no big deal no matter what happens. Now or later. If qcom gets more into China. With the 5G, That would be huge. They sell many more phones, and they’re not Apple’s. $AAPL $QCOMM

Nick Cawley 1 month ago Contributor's comment

It is a big deal, but more in the future