Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Qualcomm stock jumps 23 percent on surprise settlement with Apple


Added 04-16-19 09:03:02pm EST - “Qualcomm Inc on Tuesday won a major victory in its wide-ranging legal dispute wi...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “Qualcomm stock jumps 23 percent on surprise settlement with Apple”. Below is an excerpt from the article.

(Reuters) - Qualcomm Inc on Tuesday won a major victory in its wide-ranging legal dispute with Apple Inc as the companies reached a surprise settlement that called for the iPhone to once again use Qualcomm modem chips.

Shares of Qualcomm jumped 23 percent to $70.45 in regular trading, their biggest gain in more than 19 years, then hit $75.25 in after-hours trading.

Intel Corp, which had been Apple’s sole iPhone chip supplier for the past year amid intensifying conflict with Qualcomm, said hours after the settlement was announced that it would exit the modem chip business.

The Qualcomm settlement also incorporates a six-year patent license and a payment from Apple to Qualcomm, but the companies did not disclose the amount.

Because Qualcomm is already shipping 5G chips while Intel was still developing them, the deal helps Apple in its battle with Samsung Electronics Co Ltd and other manufacturers whose phones already work on the faster networks.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE