Apple Stock News
Recently, Broadcom Ltd bid $103 billion for Qualcomm (around $70 per share). This deal, if sealed, will be the largest transaction the technology sector has ever seen and could help fix Qualcomm’s problems with Apple.
Qualcomm and Apple has long been embroiled in a patent lawsuit. Apple alleges fraudulent royalty charges. The company believes that Qualcomm is unfairly charging too much and leveraging its strong market position in chips illegally. On the other hand, Qualcomm, one of the world’s largest semiconductor companies, claimed copyright infringement.
The latest move in the ongoing war was from Qualcomm, accusing the iPhone maker of leaking its tech knowledge and software secrets to competitor Intel. The chipmaker filed another lawsuit against Apple stating that the company breached their contract.
The buying of Qualcomm would make Broadcom the third-largest chipmaker in the world, losing only to Intel Corporation and Samsung Electronics Co. This could ease the lengthy war between Qualcomm and Apple, since Broadcom and Apple have a pretty cordial relationship.
Moreover, Broadcom wouldn’t buy Qualcomm if it thought it had to fight Apple’s battery of lawsuits.
For the latest Apple Stock News, AAPL closed at $174.25 per share on November 6th, 2017. It generated a profit of 1.01% from its previous close on November 3rd, 2017, when it closed at $172.5 per share.
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