Qualcomm Said It's Making Progress on Chip Supplies -- Is That Good News for Apple?

A global chip shortage continues to create challenges for many companies -- and not just those operating within the semiconductor industry. Apple (NASDAQ: AAPL) said its iPhone and iPad sales could suffer this year as it tries to meet incredible consumer demand for its devices amid the shortage for basic electronics components.

However, the day after Apple's latest quarterly update, chip designer and Apple supplier Qualcomm (NASDAQ: QCOM) said it was making progress getting extra supply up and running. This could be good news for Apple shareholders and could be key for the company delivering better-than-expected revenue this summer.  

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Source Fool.com