QCom focuses their capital on handsets. They could likely compete with Apple design, but they wouldn’t have a market for years. Also, they’d be competing as a

QCom focuses their capital on handsets. They could likely compete with Apple design, but they wouldn’t have a market for years. Also, they’d be competing as a commodity against Intel, AMD and AMLogic. In the semi industry, it’s not a good bet to invest only to become a 2nd source that eats into everyone’s margin. Apple is a vertical. They own their market, so the investment has more predictable returns.