India, June 5 -- After over 15 years powering iPhones with its modem chips, Qualcomm appears to be preparing for life beyond Apple. Speaking on Yahoo Finance's Opening Bid podcast, Qualcomm CEO Cristiano Amon confirmed that the chipmaker is planning its business under the assumption that Apple will not renew its modem supply contract beyond 2027.

"We're planning our business assuming that they are going to use their own modem," Amon said. "And what's exciting about the company is all of this growth that we're creating, all of those other markets, including on Android."

Apple has been one of Qualcomm's biggest clients. In 2024 alone, analysts estimate that Apple paid more than $2.5 billion in patent licensing fees, with Qualcomm's modem ...