Intel’s (INTC) wireless modem chips will go into Apple iPhones in 2016, at least partly replacing Qualcomm’s chips, VentureBeat reported Wednesday. The report, which cited unnamed sources, sent Intel stock rising 2% Wednesday, while Qualcomm (QCOM) stock fell 2.25%. Apple (AAPL) engineers for months “have been making trips to Munich, Germany, to work with Intel engineers to ready the Intel LTE chip for the iPhone,” the report states. Intel’s
Qualcomm (QCOM) received positive reviews and stock target-price hikes following its announcement late Monday that it will significantly increase its capital return program. At its annual stockholders meeting Monday, Qualcomm announced that it will repurchase up to $15 billion of its common shares, with the intent to complete $10 billion of the repurchases in the next 12 months. This replaces the previous stock-repurchasing program that had $2
Taiwan Semiconductor Manufacturing (TSM) stock fell Monday to its 50-day line, after the company got downgraded late Sunday due to excess inventory and other issues. In a research report, Michael McConnell, an analyst for Pacific Crest Securities, downgraded TSMC to underperform from sector perform. He has no price target on the company. TSMC is the leading chip industry foundry. Its customers include Sony (SNE), Qualcomm (QCOM), Nvidia (NVDA) and