👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Qualcomm soars 8% as Apple renews chip agreement through 2026

EditorHari G
Published 09/11/2023, 07:48 AM
© Reuters Qualcomm (QCOM) soars 8% as Apple (AAPL) renews chip agreement through 2026
QCOM
-
AAPL
-

Qualcomm Technologies (NASDAQ:QCOM) announced today that it has secured an agreement with Apple (NASDAQ:AAPL) to provide its high-end chips for Apple’s smartphones.

The agreement covers the products that are set to be launched in 2024, 2025, and 2026, Qualcomm said.

Shares in the chipmaker soared more than 8% on the announcement.

“This agreement reinforces Qualcomm's track record of sustained leadership across 5G technologies and products,” the chipmaker said in a press release.

Qualcomm’s 5G Modem-RF Systems will be used for new Apple products with the chipmaker noting “terms and conditions [are] similar to previous agreement.”

Qualcomm also noted a 20% share of chipset supply for the smartphone launch in 2026.

The six-year global patent license agreement, which was signed in 2019, remains unchanged. Two companies have an option to extend the agreement for two more years.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.