Why can’t Apple manage to make its own modems?

Apple, the world’s most valuable company has more than $166 billion in the bank and produces over $100 billion in annual free cash flow. The company has, for many years, also been working to develop its own modem chip, seemingly to no immediate avail.Dan Gallagher for The Wall Street Journal:[D]esigning the complex chips is apparently far easier said than done. Qualcomm, Apple’s current supplier of modem processors, said Monday morning that the two companies have extended their curre