Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
The FDIC on Tuesday votes to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
The yield curve is the only economic indicator pointing to a recession, according to Credit Suisse.Marketsread more
Stocks slipped on Tuesday as investors digested a sharp rebound from a strong sell-off last week.US Marketsread more
With the official launch of the Apple Card, Goldman Sachs has embarked on a multi-decade journey to becoming a leader in consumer banking, CEO David Solomon said.Financeread more
These are the stocks posting the largest moves midday.Market Insiderread more
The move comes as Facebook continues to grapple with its privacy practices and lawmakers' scrutiny over how it uses personal data to display ads. But it probably won't have...Technologyread more
For investors still haunted by last week's monster sell-off, the market's comeback is set to last, according to J.P. Morgan's quant guru.Marketsread more
An under-the-radar hedge fund is ruling the industry with a nearly 30% return this year on its long positions, and it's more than doubling its bet on gold.Marketsread more
NJOY is growing its market share and increasing sales as e-cigarette giant Juul's momentum slips.Health and Scienceread more
Apple has moved its modem chip engineering effort into its in-house hardware technology group from its supply chain unit, two people familiar with the move told Reuters, a sign the tech company is looking to develop a key component of its iPhones after years of buying it from outside suppliers.
Modems are an indispensable part of phones and other mobile devices, connecting them to wireless data networks. Apple once used Qualcomm chips exclusively but began phasing in Intel chips in 2016 and dropped Qualcomm from iPhones released last year.
Johny Srouji, Apple's senior vice president of hardware technologies, took over the company's modem design efforts in January, the sources said. The organizational move has not been previously reported.
Srouji joined Apple in 2008 to lead chip design, including the custom A-series processors that power iPhones and iPads and a special Bluetooth chip that helps those devices pair with its AirPods wireless headphones and other Apple accessories.
The modem efforts had previously been led by Rubén Caballero, who reports to Dan Riccio, the executive responsible for iPad, iPhone and Mac engineering, much of which involves integrating parts from the company's vast electronics supply chain.
Apple declined to comment. Technology publication The Information previously reported that Apple was working to develop its own modem chip.
The Cupertino, California-based company has posted job listings for modem engineers in San Diego, a hub for wireless design talent because of Qualcomm's longtime presence there and a place where Apple has said it plans to build up its workforce.
Apple's effort to make its own modem chips could take years, and it is impossible to know when, or in what devices, such chips might appear.
"When you're Apple, everything has to be good," said Linley Gwennap, president of chip industry research firm The Linley Group. "There's no room for some substandard component in that phone."
Apple's investment in modem chips comes as carriers and other phone makers are rolling out devices for the next generation of faster wireless networks known as 5G.
Rival handset makers Samsung Electronics and Huawei Technologies already make their own modems.
Making its own modem chips would likely cost Apple hundreds of millions of dollars or more per year in development costs, analysts said, but could save it money eventually.
Modem chips are a major part of the cost of Apple devices, worth $15 to $20 each and likely costing Apple $3 billion (2 billion pounds) to $4 billion for the 200 million or so iPhones it makes a year, said Bernstein analyst Stacy Rasgon.
Apple may also benefit by combining its modem chips with its processor chips, as Samsung, Huawei and most other phone makers do. That saves space and battery life, two important considerations if Apple introduces augmented reality features into future products.