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Apple iPhone Has Verizon 4G Potential

Barclays analyst sees a Qualcomm chip as key to Verizon iPhone 4G nirvana.

NEW YORK (

TheStreet

) --The tantalizing and seemingly inevitable

Verizon

(VZ) - Get Report

version of the

Apple

(AAPL) - Get Report

iPhone is looking more and more like an early 2011 arrival.

Qualcomm's

(QCOM) - Get Report

CDMA chip and perhaps a dual mode 3G and 4G chip, is set to go for production of the

Verizon iPhone

in December, wrote analyst Tim Luke of Barclays Capital Tuesday.

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"Following recent industry checks, we believe that Qualcomm is making progress in its positioning as a chip supplier to Apple with initial shipments in the December quarter for a January CDMA and possibly dual mode LTE iPhone launch at Verizon," he wrote.

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If true, the latest update further confirms reports by

TheStreet

that a

CDMA iPhone

is slated for production in the fourth quarter. The January arrival of the Verizon iPhone would make sense since it coincides with Verizon's national introduction of its 4G LTE wireless network, a high-speed successor to the current 3G system.

The 4G kickoff has long been seen as Apple's best opportunity to start a partnership with Verizon and gain access to some of the telco's 92 million subscribers. Verizon has a year or two jump on

AT&T's

(T) - Get Report

4G upgrade effort.

Investors have focused on the

Verizon iPhone

as the key to a new round of growth for Apple.

--Written by Scott Moritz in New York.