Photo: Cicarese Design
Apple’s stock has been getting hammered today, and one big reason is commentary from Qualcomm on its chips.Last night Qualcomm’s CEO Paul Jacob said the a supply issue is keeping the company from producing new, smaller LTE chips.
Many expect those chips to be used in the iPhone 5.
Everyone thinks that means Apple won’t be able to release the iPhone 5 this fall.
They are misinterpreting Jacobs’ statement, though, it seems.
Piper Jaffray analyst Gene Munster says the new iPhone will still come out in October.
And he bases it on the same statement from Qualcomm!
From Munster’s note:
The bottom line is that we believe the iPhone 5 launch is likely to follow the new typical pattern established with the iPhone 4S of an October launch. We expect the iPhone 5 to not only include a revolutionary newly designed body, but also support LTE and utilise the Qualcomm 28nm baseband modem.