Qualcomm’s Value Balloons by $25 Billion in Apple-Fueled Relief Rally

By CCN: A two-year legal battle between chipmaker Qualcomm and tech giant Apple was settled today, propelling Qualcomm’s stock higher by a double-digit percentage. Investors cheered a thawing in relations between the two tech giants. Market cap rose from approximately $70 billion on April 15 to currently hover at $95 billion. The end of various legal disputes between the companies was quickly followed by an announcement by another tech leader. Intel said it is abandoning plans to design chips for Apple’s next-generation 5G series of smartphones, paving the way for Apple to start using Qualcomm’s chips again. As the news

The post Qualcomm’s Value Balloons by $25 Billion in Apple-Fueled Relief Rally appeared first on CCN

source https://www.ccn.com/qualcomms-value-25-billion-apple

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