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Qualcomm stock skyrockets 23% as Apple legal battle concludes

Qualcomm stock surged after the announcement that the company has settled its multi-billion dollar lawsuits with Apple. At market close Qualcomm’s stock price settled at $70.45 after opening at $57.46.
The stock surge showcases just how surprising the resolution is, especially given how wholeheartedly Apple appeared to be moving forward with Intel to keep Qualcomm tech out of their mobile devices. Qualcomm and Apple had spent the better part of more than two years engaged in a legal skirmish over outsized royalty payments, patent infringements and IP theft.

Apple and Qualcomm are ending their legal battles
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