Qualcomm stock jumps 23% on surprise settlement with Apple

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Qualcomm on Tuesday won a major victory in its wide-ranging legal dispute with Apple as both reached a surprise settlement that called for the iPhone to once again use Qualcomm modem chips. Shares of Qualcomm jumped 23 per cent to US$70.45 (S$95.28) in regular trading,...

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

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

 

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