Qualcomm Is Living Out Chips' Big Tech Risk

Qualcomm can live without Google, but life without Apple would be more difficult. The market keeps pricing the chip maker for the latter eventuality. Alphabet's Google announced Monday that its coming line of new Pixel smartphones will be powered by its own in-house processor. The chip, called Tensor, has been specially designed for artificial intelligence uses, though Google didn't say much about its capabilities in its announcement. But the new chip does take over the slot that has been occupied by Qualcomm's Snapdragon processor for the past five generations of Pixel, since Google first launched the smartphone in 2016.