The shares for Ceva, Inc. (NASDAQ:CEVA) have hit a record high since it was announced that the chip technology present in both Apple Inc. (NASDAQ: AAPL) iPhone 7, and 7 plus phones are provided by Ceva itself.
YanivArieli said to Reuters on Tuesday that due Qualcomm, Inc. (NASDAQ:QCOM) numbers have been down since 2012, however, Arieli continued to state that they intend to change this from this year.
The Potential And Features Of Ceva Based Chips
In order to reduce the time and cost it takes for companies such as Intel Corporation (NASDAQ:INTC) as well as Samsung Electronics Co Ltd for bringing products to the market, Ceva licenses its designs to these chipmakers who then embed their individual signal processors within the chipsets.
In the electronics industry, this is known as ‘teardowns’. Through this, it has been seen that for the first time Intel’s thin modem, which originally, was designed by Ceva is present in certain versions of the new iPhone released by Apple.
Ceva did a study, which yielded the results of an estimation of approximately 200 million LTE phones this year alone will be featuring the companies chipset design. In addition to this, within the next three years, Ceva has set a goal of expanding these numbers to between 400 and 500 million devices.
This number, Arraeli stated, was not conducted just from the value of high-end Apple and Samsung devices, but also for the new emerging market of cheap ‘$100’ affordable smartphones.
Ceva Shares Reports And Stock Pricing
On Monday, Shares for Ceva rapidly increased and was trading at $34.99 per share, gaining 10.3 percent. Although there is still a way to go for the company to achieve its peak of 2011, the stock price is certainly on the rise.