Qualcomm gains $30 billion in market value after Apple settlement

Qualcomm and Apple Settle Long-Running Patent Royalty Dispute

It looks as though the other shoe has dropped with followings Apple's surprise settlement with Qualcomm over patent licensing fees (as we predicted).

Apple started using Qualcomm's chips, which allow the iPhone to connect to cellular networks, in 2011. It also included a multiyear agreement for Qualcomm to supply chips to Apple.

Qualcomm claimed that Apple was committing patent infringement by using Qualcomm's intellectual property related to thousands of patented technologies within iPhones without paying royalties.

The settlement came just as the former smartphone allies turned antagonists were facing off in a federal court trial that was supposed to unfold over the next month in San Diego.

Shares of Qualcomm jumped 22 per cent in late afternoon trading, their biggest gain in more than 19 years. Tuesday's settlement is reportedly a global agreement that will resolve all those cases.

Neither Apple nor Qualcomm would comment beyond a brief statement announcing they had resolved their differences. This suggests that the Qualcomm is once again going to be supplying modems for Apple's iPhones and iPads.

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For those who don't know, the legal action, which began back in 2017, involved patent infringement accusations on the part of both companies.

Intel says that it will honor existing contracts for 4G chips and is re-assessing "opportunities for 4G and 5G modems in PCs, internet of things devices and other data-centric devices". The company had been working on 5G chips for Apple, but the chips were not expected to arrive until 2020 at the earliest. That non-jury trial examined Qualcomm's "no license, no chips" policy, and other controversial sales practices that Qualcomm uses to sell its chips. Accordingly, as noted by CNBC, Qualcomm's stock had its best day since 1999, with the stock jumping up 23% during market hours, and a further 7% after-hours.

Qualcomm is still waiting for a federal judge's ruling on claims by the U.S. Federal Trade Commission that the company's licensing practices are anti-competitive.

Analysts had previously said that the dispute between Qualcomm and Apple could slow down Apple's plans to support next-generation 5G networks.

The settlement also helps Apple close the gap with rivals such as South Korea's Samsung Electronics Co and Huawei in delivering a 5G phone.

The comments come a day after Reuters reported, citing sources and documents, that the United States will push allies at a meeting in Prague next month to adopt shared security and policy measures that will make it more hard for Huawei to dominate fifth-generation (5G) telecommunications networks.

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