Apple Fiscal 2020 Expects to Contribute Over $4 Billion in Revenue to Qualcomm Due to Iphone 11S 5G Chips

Apple

Bank of America Merrill Lynch analysts points out the recent news reports that indicate that several 2020 Apple iPhone models (or iPhone 11S) may equip with 5G modems.

In a less optimistic scenario, it is assume that the modem technology acquire by Apple will catch up with Qualcomm’s technology in 2022. Qualcomm’s share of Apple’s 5G modems will then drop to 50%.

A more optimistic view is that Qualcomm will maintain its 100% share of Apple’s 5G modems in 2022.

Analysts estimate that given these variables and how many iPhone models will have 5G modems install. Apple may contribute $ 1.2-3.4 billion in revenue in FY2021 and $ 1.6-4.4 billion in FY2022.

Analysts reiterated a buy rating on Qualcomm stock and a $100 target price.

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