Better Late Than Never: Qualcomm Reaches Settlement With Apple; No Change to $72 FVE for QCOM
On April 16, Qualcomm and Apple agreed to drop all ongoing litigation against one another (as well as Apple’s contract manufacturers), while reaching a six-year license agreement, effective April 1. The settlement also includes a payment from Apple to Qualcomm to compensate for the missed royalty payments since the dispute began in January 2017. We estimate Qualcomm did not receive royalties on roughly 400 million iPhones sold by Apple over that period, which equates to roughly $3 billion in lic...Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The company's products include: iPhone; Mac; iPad; and wearables, home and accessories, which includes AirPods?, Apple TV?, Apple Watch?, Beats? products, HomePod?, iPod touch? and other Apple-branded and third-party accessories. The company's services include: digital content stores and streaming services; AppleCare, which includes AppleCare + (AC+) and the AppleCare Protection Plan; iCloud, which is the company's cloud service; licensing; and other services, which include Apple Arcade?, Apple Card?, Apple News+, and Apple Pay, a cashless payment service.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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