The word hitting the net waves is that Apple has chosen Qualcomm to supply the chip for the next version of the Apple iPhone which is heading from Verizon Wireless later this summer reports an article over on The Street.

The news comes via Ashok Kumar and analyst for Northeast Securities who has confirmed this with both supplier and manufacturer of the iPhone apparently.

A Qualcomm spokesperson has said “nothing has been disclosed yet,” while no word is forthcoming from the Apple camp as usual; while Kumar has said that Qualcomm is beginning to be the one to beat.

Kumar also states that the Apple Qualcomm deal doesn’t involve the Snapdragon platform but rather a 3G wireless tech chip for EV-DO.