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, Nevada, U.S. January 8, 2019. REUTERS/Steve Marcus

Reuters

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

  • 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.Advertisement

Apple shares were little changed following the announcement.

This story is developing. Check back for updates.

Qualcomm shares.

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