Apple Could Drop Qualcomm Chips Confirms $45M Corning Incorporate Investment

Qualcomm (NASDAQ: QCOM) is on the cusp of losing a multibillion chip supplying contract. Immediate reports indicate Apple (NASDAQ:AAPL) could start using its chips as early as 2023, consequently reduce its reliance on the chip giant.

Qualcomm Chips

Qualcomm shares traded lower amid growing fears that such a loss could force the company to compete for more orders in the low-end market. However, the company can heave a sigh of relief as the Apple loss is not expected to hurt its royalty revenue.

Apple resorting to using its own chips is likely to hurt other companies that also supply it with chips for powering its devices. This explains why other chipmakers led by Nvidia Corporation (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) traded lower on reports that Apple’s 5G baseband chip will be used in iPhones.

Corning Investment

Apple has also confirmed a $45 million investment in Corning Incorporate. The investment will go towards enhancing the supplier of precision glass for iPhone manufacturing capacity. The funding will also help accelerate research and development efforts.

The $45 million investment builds on the two company’s long-lasting relationship that has seen Apple invest more than $450 million in the company. As it stands, Apple investments in Corning Incorporate are helping support more than 1,000 jobs. The investments have also helped enhance research and development efforts in the state-of-the-art glass processes leading to the development of Ceramic Shield.

The $45 million investment also comes hot on the heels of Apple announcing plans to invest more than $430 billion in the US economy. The company hopes to add more than 2.7 million jobs across all 50 states as part of the investment. As part of the $430 billion investment, Apple is to work with more than 9,000 suppliers and companies across various sectors.

Blue Origin Space Trip

Separately, Blue Origin is poised to auction a seat for its debut crew spaceflight slated for June 20. Getting a seat on the spacecraft won’t be easy given the array of requirements. Each crew member must be between 5 feet and 6 feet for starters, weighing 50kg to 101 kg.

One must also be able to climb a launch tower about 7 flights of stairs in less than 90 seconds. Other requirements include being able to walk quickly across uneven surfaces and not being afraid of heights, among other conditions.

By reading our website you agree to the terms of our disclaimer, which are subject to change at any time. Owners and affiliates are not registered or licensed in any jurisdiction whatsoever to provide financial advice or anything of an advisory nature. Always do your own research and/or consult with an investment professional before investing. Low priced stocks are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service you agree not to hold us, our editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our newsletters, website, twitter, Facebook or chat. We do not advise any reader to take any specific action. Our releases are for informational and educational purposes only. Never invest purely based on our articles. Gains mentioned on our website, twitter, Facebook, and on our website may be based on EOD or intraday data. We may be compensated for the production, release, and awareness of this article. We will disclose any and all compensation on the article page. This publication and its owner never hold positions in the securities mentioned in our articles. Our information may contain Forward-Looking Statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site. The information in our disclaimers is subject to change at any time without notice. We are not held liable or responsible for the information in press releases issued by the companies discussed in these write-ups. Please do your own due diligence