“Qualcomm shares rose as much as 19 percent in New York in their biggest intraday move since October 2008, after Bloomberg News first reported the takeover plans. They closed up 13 percent at $61.81, valuing the company at $91 billion,” Hammond, Nair, and King report. “Broadcom rose 5.5 percent, for a market valuation of about $112 billion.”
“Broadcom, a major supplier of iPhone parts that counts Apple among its largest customers, said this week it will return its headquarters to the U.S. from Singapore. The company already lists San Jose, California, as a corporate co-headquarters,” Hammond, Nair, and King report. “Qualcomm finds itself in a weakened state. A legal battle with Apple is costing revenue and jeopardizing a business model that for years made Qualcomm one of the most successful chipmakers. Before today, its shares had slumped 16 percent this year, compared with a 41 percent surge in the Philadelphia Semiconductor Index.”
Read more in the full article here.
MacDailyNews Take: Perhaps a change in management would bring some sanity to Qualcomm and allow them to stop their FRAND abuse and finally ink a fair, reasonable and non-discriminatory deal with Apple.
Prost, everyone! New iPhone X owners, enjoy your slice of the future this weekend! We sure will!