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Apple held its 5G iPhone event yesterday and analysts are out with reactions.
On the supplier side, JPMorgan remains “positive on quality names that can benefit from the iPhone 12 cycle,” including TSMC (NYSE:TSM) (manufactures the A14 processor) and Broadcom (NASDAQ:AVGO), Qorvo (NASDAQ:QRVO), and Skyworks (NASDAQ:SWKS), which are all exposed to the 5G-related “RF dollar content uplift.”
The firm notes that Apple including mmWave 5G in all of the U.S. iPhones is a win for Qualcomm (NASDAQ:QCOM) on the antenna module front.
The iPhone 12 camera upgrades are a positive for Lumentum (NASDAQ:LITE), which has historically supplied lasers for the iPhone 3D cameras. The mobile DRAM upgrade should benefit Micron (NASDAQ:MU).
And Corning (NYSE:GLW), which was called out a few times during the event, gets to provide the new surface glass.
JPMorgan maintains an Overweight rating on most of the companies but is Neutral on Skyworks
Separately, BofA maintains a Buy rating on Qualcomm and raises the price target from $145 to $165, citing the “higher-than-expected mmWave attach rate.”
The arrival of 5G iPhone 12 is anticipated to result in a robust upgrade cycle, triggering a battle in the carrier sphere, and a boon for iPhone maker Apple (NASDAQ:AAPL).
Both AT&T (NYSE:T) and Verizon (NYSE:VZ) are giving away models for free, provided that customers sign up for unlimited plans and trade in qualifying phones. Preorders start Friday.
While AT&T is offering the promotion to new and existing customers, Verizon is only offering free iPhones to newcomers. Existing Verizon customers can get a new iPhone for $15 a month for 24-months if they qualify.
T-Mobile US (NASDAQ:TMUS) is also in the promotion game. It’s offering two iPhone 12 Pros for $100 each to new customers with trade-ins, as well as selling the new iPhone for half off with a trade-in.
Premarket: AAPL +1% to $122.30/share.
InterDigital (NASDAQ:IDCC) announces three-year collaboration with cloud-gaming specialist Blacknut to develop technologies that improve and enhance the performance of existing gaming technology, including new features that will augment and expand the cloud gaming experience in the future.
InterDigital and Blacknut will tackle emerging challenges in cloud gaming experiences while testing InterDigital’s innovative concepts for new interactive experiences using Blacknut’s established gaming platform.
“With the potential to grow to more than 3.5B gamers by 2024, InterDigital aims to stay at the forefront of leading research organizations in the world of next-gen gaming. The key drivers of cloud gaming growth – network architecture, video streaming and content delivery – all reflect our areas of expertise,” said Henry Tirri, Chief Technology Officer at InterDigital. “Collaborations with gaming companies like Blacknut provide a meaningful opportunity to shape the development of future cloud gaming technologies, solutions, and experiences.”
Under a new five-year deal, Nokia (NYSE:NOK) will move its IT infrastructure away from inefficient data centers and to Google (GOOG,GOOGL) Cloud.
“Every few years you have to go and invest in all of this hardware, so we get to break that cycle,” Ravi Parmasad, Nokia’s VP of global IT infrastructure, tells Bloomberg.
Nokia is currently focused on building 5G network equipment, battling it out with rivals Ericsson and Huawei, though the latter has been slowed by the U.S. supplier ban.
Financial terms of the deal weren’t disclosed.
Veritone (NASDAQ:VERI) Licensing signs exclusive agreement with the South China Morning Post to expand its global news library.
The agreement gives Veritone the exclusive rights to license SCMP’s archive and current video content to its clients in North America.
The deal is a significant milestone in Veritone’s strategy to expand the global reach of its AI-powered content library and enable content creators to engage with new and existing audiences through highly relevant content.