Apple Buys Palo Alto Semiconductor (PA Semi)

The Inquirer (via iLounge) is reporting that AMD (formerly ATI) Graphics Products Group CTO Bob Drebin has updated his LinkedIn page to show he's found a new home -- at Apple.

This is another in an increasingly long line of chip-related acquisitions, licensing deals, and staffing additions Apple has made in the chipset arena in the last year, including buying PA Semi, licensing ARM and PowerVR, and hiring Mark Papermaster.

Even though leaked specs for the next gen iPhone suggest previous iPhone chip-maker Infineon is still on board for now, it's fairly clear Apple is looking to make changes further out on the product road map.

Our editor-in-chief, Dieter Bohn, is wondering what they think they know about chips that nobody else does, driving them to move this in house?

We're guessing it combines Apple's desire for control and hardware customization/differentiation. Why do you think, and more importantly, what do you think Apple is going to do with all this firepower under the iPhone (and iPod touch) hood?