- Qualcomm Inc QCOM claimed to supply only 20% of the modem chips to connect Apple Inc's AA iPhone wireless data networks by the device's 2023 launch, Reuters reports.
- Qualcomm currently supplies chips for all of Apple's devices.
- The chipmaker believed its phone chip revenues would expand in line with broader phone markets despite Apple finding 80% of its modem chips from other suppliers.
- Apple is working on its modem chip and acquired Intel Corp's INTC modem unit.
- Price Action: QCOM shares traded higher by 5.58% at $177.90 on the last check Tuesday.
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