Apple dropping a cool $1 billion on Intel's smartphone modem business

When you are a supplier for Apple, the iPhone-maker’s moves can have a huge impact on your business. If Apple makes a change to its design and no longer needs a supplier, it can pretty much ruin that supplier overnight. For example, when Apple stop doing business with a sapphire glass supplier, that company literally went bankrupt. And so, with all of that said, the folks over at Qualcomm must be chugging Pepto-Bismol tonight. Why? Because it makes modems for Apple’s iPhone, and Apple is buying a smartphone modem business from Intel for a billion dollars. In other words, if… [Continue Reading]