Qualcomm secures long-term deal to supply Apple with 5G chips until 2026

Qualcomm has signed a new deal with Apple to supply 5G chips until at least 2026, reinforcing Apple's supply chains as it faces challenges in China. The agreement extends their previous chip supply deal, which ends this year, and Qualcomm estimates that only a fifth of Apple's iPhones will use its chips by 2026. Apple is also working on its own modem technology but has not disclosed its plans for ramping up its use. The financial terms of the deal were not disclosed.