Qualcomm stock surges as Apple agrees to settlement in all lawsuits
Apple Inc. AAPL, +0.40% and Qualcomm Inc. QCOM, +15.04% agreed on Tuesday to drop all their lawsuits against each other worldwide. Qualcomm shares rallied 15% to $65.78 in recent trading, while Apple shares rose 0.6% to $200.39. Apple agreed to pay Qualcomm an undisclosed sum in a settlement and agree to a six-year licensing agreement effective April 1, that includes a two-year option to extend, and a multiyear chipset supply agreement.
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