Qualcomm was the closest and the largest supplier for the chips used in the Apple iPhones however after the recent leak about the partnership between Intel and Apple for the iPhone 7 order the company saw an immediate drop of 2 percent in their share prices after the market closing for the day. According to the latest plan of Apple, the chips being developed by Intel will be used in the AT&T version of the iPhone and some of the other models of the iPhone being shipped overseas.

Qualcomm will be used with the iPhones being sold in China market and the Verizon version of the iPhones. Some of the market analysts say that the deal between Intel and Apple has somehow plagued the market value of Qualcomm. Their stock seems to be downgraded in the market. It is pretty much clear that Apple hold a higher influence on the brands holding partnerships with the company. Likewise in the case of Intel and Qualcomm, the company faced an immediate loss of the 2 percent in their share prices. The exact reason behind the partnership is still unknown. There is no confirmation from the company as well about the latest partnership deal.

Intel has undergone a huge cost cutting in their PC market. Last year the share prices of Intel went down by 7 percent however this year the partnership has given an immediate rise in the price of the shares by 8 percent. The losses of the company have nearly been covered. No official comment has been heard by either Apple or Intel. Both of the companies are quite on the partnership deal. None of the officials from any of the company came forward to discuss anything about the news. This is for the first time historically where Qualcomm has faced losses.