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Widely regarded as one of the best-positioned companies for the
push to 4G LTE networks, there has been plenty of speculation that Qualcomm could be an iPad 3 winner.
The tech giant already uses Qualcomm in the
Verizon(VZ) CDMA version of the iPad 2, according to a
teardown by ifixit.com, as well as within the
Verizon iPhone and the iPhone 4S.
Qualcomm's close relationship with Apple has prompted speculation that the San Diego-based firm could also be in line to provide 4G technology to the iPad 3.
"If it includes LTE then Qualcomm
," explained Canaccord's Walkley, in an email to
TheStreet. Walkley rates Qualcomm shares buy, citing strong tablet and smartphone sales in 2012, as well as the longer-term 4G upgrade cycle. The analyst has a $75 price target on the company.
"We can't comment on market rumors," explained a Qualcomm spokesman, in an email to
sailed past Wall Street's estimates in its recent fiscal first-quarter results, and raised its guidance as the chip maker continues to ride the smartphone and tablet wave.
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