Qualcomm's surprising settlement with Apple is going to send the stock soaring even higher, Morgan Stanley says
The market has not yet fully adjusted the price of Qualcomm stock after its settlement with Apple last week, Morgan Stanley analysts wrote in a note on Tuesday.
Qualcomm is already on a tear. The stock rose about 20% the day it announced its settlement with Apple, and continued to climb after that. Some analysts believe Qualcomm won the dispute. Apple ended up paying Qualcomm a one-time payment that has been estimated to be in the billions of dollars, and bought a license to those patents and modem chips directly from Qualcomm at a price estimated to be $8 or $9 per phone.
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