Raymond James analyst Chris Caso tells investors in a research note that he believes Apple (AAPL) has made a design change with respect to the 5G mmWave module for iPhone 12, with his firm's latest checks suggesting Apple decided to move from a turnkey Qualcomm (QCOM) solution to a module that Apple will outsource on its own, still however using Qualcomm components. Caso says he believes this change will significantly reduce the BOM cost for mmWave to ~$20 from about $50 with the Qualcomm turnkey solutiom, which will greatly reduce the entry barrier for mmWave phones and provide Apple with a competitive advantage due to its comparatively lower cost for that technology. While the revenue to Qualcomm will be lower than what it would have been if Apple had adopted its turnkey solution, Caso expects the mmWave component sales will still represent $150M-$200M incremental annual revenue with the potential to move higher in subsequent years, and doesn't believe this is in consensus expectations.

Alphabet (GOOGL), the parent company of Google, is scheduled to report first quarter 2024 results after the market close on Thursday, April 25, with a conference call scheduled for 4:30 pm Eastern Time. What to watch... To see the rest of the story go to thefly.com. See Story Here

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Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here