Apple likely to miss goal in push to replace Qualcomm modem, Bloomberg says

Apple (AAPL) has fallen further behind in its effort to make a modem chip for the iPhone as it has been “stymied by the complexity” of replacing a Qualcomm (QCOM) component, according to Bloomberg’s Mark Gurman. After already delaying a plan to have an in-house chip ready by next year, Apple is now likely to miss a goal to ship the component by the spring of 2025, people familiar with the situation told Gurman. Such a move would postpone the release until at least the end of 2025 or early 2026, the final year of the iPhone maker’s recently extended contract with Qualcomm, the author notes. Shares of Qualcomm and Apple are both fractionally higher after the news.