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...Qualcomm is engaged in the development and commercialization of foundational technologies for the wireless industry. The company's segments include: Qualcomm CDMA Technologies, which is a developer and supplier of integrated circuits and system software based on code division multiple access, orthogonal frequency division multiple access and other technologies; Qualcomm Technology Licensing, which grants licenses or otherwise provides rights to use portions of its intellectual property portfolio, which, among other rights, include certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products; and Qualcomm Strategic Initiatives, which makes investments.
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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