Qualcomm was up more than 10% Wednesday morning, extending the gains following its settlement with Apple.
continued to soar Wednesday morning, up 10%, after announcing its settlement with Apple on Tuesday afternoon.The settlement includes Apple paying a fee to license the chipmaker's technology for at least the next six years.The chipmaker Qualcomm extended its gains Wednesday morning, up over 10%, as traders continued to bid up shares after the company reached a settlement with Apple over their long-running royalty dispute.
The dispute was settled largely in-line with Qualcomm's interpretation of patent rights. Specifically, Qualcomm asserted that all 5G smartphone makers are subject to licensing fees on the use of its technology even if they do not purchase chips directly from Qualcomm. "Qualcomm and Apple announced a settlement agreement yesterday that appears to be overwhelmingly positive for Qualcomm despite the absence of details at this time," noted JPMorgan research analyst Samik Chatterjee. Chatterjee has an"overweight" rating and a price target of $88 for Qualcomm — more than 12% above current trading.
While not specifically announced, the agreement opens the door for Qualcomm to resume its previous role as a chip supplier to Apple. Following news of the settlement, Apple's current chip supplier, Intel, announced it would
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
10 things you should never stay in a hotel withoutThese are 10 items reviewed recommends to bring a cozy taste of the familiar to your home away from home.
Read more »
These are the 10 highest-paying entry-level jobs in techEntry-level jobs for data scientist, developer, and product manager jobs could come with six-figure salaries, according to a new study from Comparably
Read more »
Goldman Sachs says chance of a recession is now just 10%Goldman Sachs economists say Fed policy has reduced the risk of a recession over the next year to just 10% from a previous 20%, at the end of the fourth quarter.
Read more »
8 in 10 tech companies offer this fix to reduce gender bias at workEight in 10 tech companies now offer formal gender diversity training programs, a number that's been increasing steadily upward for the last three years as companies face criticism from investors, employees and the public to address the issue.
Read more »
Judge orders Peru's former president Kuczynski to jail for 10 daysA judge ordered Peru's former president Pedro Pablo Kuczynski to spend 10 d...
Read more »
Heavy rains cause floods, kill at least 10 in Rio de JaneiroAt least 10 people have died in Brazil after heavy rains brought dangerous floods to Rio de Janeiro, as water rushed between cars and uprooted trees in the city, and school were closed.
Read more »
The top 10 drama TV shows on Netflix and other streaming servicesThe most in-demand drama TV shows on Netflix and other streaming services include 'The Handmaid's Tale,' 'Orange Is the New Black,' and 'Narcos.'
Read more »