To last through March 2027 is a big day for QTL
Qualcomm has announced its Q1 fiscal 2024 results and is back to growth. The restructuring is working out, as the company announced $9.92 billion in revenues and $2.77 billion in net income, exceeding the high end of the company’s guidance. A significant announcement of a great quarter result is that Apple will use Qualcomm’s 5G licensing at least until the end of Q1 2027.
This is a multi-dimensional announcement, as it means that Apple is likely to use Qualcomm modems until that date, and more importantly, it will use the licensing from Qualcomm’s technology licensing (QTL) group. Even if Apple creates its own 5G modem, we still believe it will need to continue using Qualcomm’s license even beyond this date. Modems are exceptionally hard, and Intel and Apple are proving us right. Apple still doesn’t have its in-house…
