Qualcomm's Shares Jump 23% After Settling Feud With Apple

Apple and Qualcomm Settle Sweeping Patent Suits - Thurrott.com

Intel, which is now the sole supplier of 4G LTE modems for Apple's current generation of iPhones and iPads, just announced that it is throwing in the towel on 5G modem development for smartphones.

Qualcomm stock was trading at roughly $58 per share before the news broke, and is now trading at nearly $70 per share.

Still, it's not clear whether Apple's settlement with Qualcomm forced Intel to leave the 5G market or whether Intel's impending exit from the 5G market forced Apple to settle with Qualcomm. It was expected that the trial would last until May, but here we are.

Today is a day few of us thought would ever come: Apple and Qualcomm have called a truce and ceased all litigation against each other around the world.

Apple and Qualcomm have ended their contentious legal battle over microchip royalties with a surprise agreement to drop all litigation worldwide.

The not-so-surprising move, which likely explains the sudden settlement between Apple and Qualcomm, will also see Intel "complete an assessment of the opportunities for 4G and 5G modems in PCs, internet of things devices and other data-centric devices". The iPhone-maker accused Qualcomm of charging a higher fee for using their patents if they chose a competitor's product.

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For what seems like forever at this point, Apple and Qualcomm have been going back and forth at one another over various royalty disputes. Now that the settlement has taken place, it means that future iPhones may once again feature Qualcomm-branded 5G modem chips.

Apple and Qualcomm also reached a six-year license agreement, effective as of April 1, 2019, including a two-year option to extend, and a multiyear chipset supply agreement. Qualcomm was seeking over $7 billion in unpaid royalties from Apple and its supplier, as well as other damages totaling billions of dollars.

Qualcomm Inc. shares rose $4.25 (+6.03%) in after-hours trading Tuesday. Tuesday's settlement is reportedly a global agreement that will resolve all those cases.

"Apple had been a little concerned whether a sole supplier for modems could affect the company's plan to introduce its first 5G smartphone next year", a person familiar with Apple's plans said.

How the jury decides this case could have a large impact on Qualcomm's business practices moving forward.

Following its initial U.S. lawsuit, Apple filed two more suits in China on the same basis. That more or less is the question to be decided by a United States court as Apple seeks billions in damages from former chip supplier Qualcomm.

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