#JPMorgan tell investors #Apple $AAPL will integrate #Broadcom’s $BRCM wireless charging chip into its upcoming iPhone launch in the second half of 2017.
In February, the bank was unclear whether or not Apple would be integrating wireless charging into this year’s iPhone launch. The February report sent shares of #Energous $WATT lower.
Since that report, Broadcom is getting set to commence manufacturing production of the wireless charging chip with its foundry partners in May.
The broker believes Apple will also use Broadcom’s next generation WiFi/Bluetooth combo chip and maybe two ASIC chips instead of one. There is at least a $2-$3 step-up in dollar content per phone from the new wireless charging chip, new touch controller chips and upgraded wireless connectivity content in the upcoming iPhones, which is “significantly” higher than what the market is anticipating.
#JPMorgan reiterates an Overweight rating on Broadcom with a $260 price target.
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