Qualcomm is soaring after agreeing with Apple to drop all litigation

FILE PHOTO: People walk by a video display promoting 5G connectivity at the Qualcomm booth during the 2019 CES in Las Vegas

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FILE PHOTO: People walk by a video display promoting 5G connectivity at the Qualcomm booth during the 2019 CES in Las Vegas
source
Reuters

  • Qualcomm shares surged late Tuesday after the company and Apple reached an agreement to dismiss all litigation related to their royalty dispute.
  • The settlement includes a payment from Apple to Qualcomm, though a press release did not specify its terms.
  • Watch Qualcomm and Apple trade live.

Shares of the chipmaker Qualcomm surged 16% late Tuesday after the company and Apple agreed to drop all litigation related to their royalty dispute.

The settlement includes a payment from Apple to Qualcomm, though a press release did not specify its terms. The agreement ends all ongoing litigation, including with Apple’s contract manufacturers.

Apple shares were little changed following the announcement.

This story is developing. Check back for updates.

Qualcomm shares.

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Qualcomm shares.
source
Markets Insider