Based in San Francisco, his focus is on U.S. equities. Sales and profit beat Wall Street expectations.Washington has imposed restrictions on sales to Huawei and several other Chinese companies.
Qualcomm Incorporated (NASDAQ: QCOM) today announced that the United States Court of Appeals for the Ninth Circuit granted in its entirety Qualcomm’s request for a partial stay, pending appeal, of an injunction from the U.S. District Court for the Qualcomm, which didn't name the phone vendor, is a supplier to Apple Inc., which, people familiar with the matter have said, has delayed its launch of its first 5G phone later this year.The agreement was unexpected given the backdrop of an increasingly acrimonious political battle between Washington and Beijing over technologies broadly and Huawei in particular. The outlook reflects an assumed 15% year-over-year fall in smartphone shipments because of the pandemic and, the company said, the delayed launch of a flagship 5G phone. China and Huawei have denied those charges. The case, initially won by the FTC, is under appeal.Write to Asa Fitch at asa.fitch@wsj.comThe deal will drive a significant increase to future sales, Qualcomm Chief Executive Steve Mollenkopf said, declining to quantify the boost. ET
The Federal Trade Commission has some friends in high places in its suit against Qualcomm.
He previously reported for trade publications in covering the drug and medical-device industries back to 1998. ... the latest twist in a year's-long legal battle.
Qualcomm Q2 2020 posts a strong quarter with revenue growth of five percent bringing its total to $5.21 billion (£4.1), this despite a drop in handsets. As Huawei and Qualcomm negotiated a settlement in their fight, the Chinese company made interim payments of some of the licensing fees it owed.The San Diego-based chip maker announced the Huawei pact when reporting third-quarter earnings that saw sales almost halve from the year prior to $4.89 billion, as the coronavirus pandemic weighed on smartphone sales. The Trump administration has accused China of stealing trade secrets and using technology, including Huawei's, as a vehicle to potentially conduct espionage. Qualcomm has announced the new Quick Charge 5.0 standard, which can charge your phone to a massive 50 percent in only five minutes, or to full in 15 minutes. Qualcomm’s Practices Violate Antitrust Law, Judge Rules Federal judge sides with FTC, saying patent-licensing practices ‘strangled competition’; Qualcomm plans to seek an expedited appeal He called the twin agreements a positive outcome for the business going forward and an issue the company was pleased to see wrapped up.July 29, 2020 18:48 ET (22:48 GMT)As part of that tussle, the administration and China have imposed tariffs on each other, including on electronics. The Trump administration is asking to take part in legal arguments at Qualcomm's (QCOM +0.9%) Feb. 13 appeals court hearing - backing the company's attempt to … In addition to the $1.8 billion payment of back royalties, Rolland estimates Huawei will pay $200 million to $250 million in Qualcomm technology licensing, or QTL, royalties per quarter.“Beyond the Huawei settlement, COVID continues to negatively affect global handset units, although the high-end and 5G segment continue to grow, helping to support Qualcomm’s profitability,” Rolland said.Qualcomm Inc.’s stock price soared past its former high of $100 set two decades ago on Thursday after the chip maker revealed it settled a licensing dispute with the world’s largest smartphone maker, clearing the way as the new 5G standard rolls out.“Moreover, reaching an agreement with Huawei against the backdrop of heightened tensions between US and China, as well as recent US restrictions cramping HiSilicon’s ability to access 5G chipsets, we believe is going to lead to expectations for a bull case around potential Qualcomm 5G shipments to Huawei in the future to support its smartphone launches,” Chatterjee said.J.P. Qualcomm Inc won a partial stay against the enforcement of a sweeping antitrust ruling in a lawsuit brought by the U.S. Federal Trade Commission (FTC), according to a court filing on Friday. Its licensing practices have come under growing dispute in recent years, however, as some customers argued Qualcomm was using its leverage as a chip supplier to extract unfair patent fees. Qualcomm is battling an antitrust case brought by the Federal Trade Commission over its licensing practices. Follow Wally on Twitter at: @wmwitkowski.Susquehanna analyst Christopher Rolland, who has a positive rating on Qualcomm and hiked his price target to $125 from $110, in a note titled “Huawei...Out.a.the.wei,” called the settlement the “star of the show” in Wednesday’s earnings report.“With all major global OEMs now licensed for 5G, the QTL business model doubts should be firmly cast aside,” Ramsay said.“We see additional risk to QTL from uncertainty in 5G smartphone sales given challenged consumer discretionary spending and potentially adverse FTC ruling,” Schafer said.Cowen analyst Matthew Ramsay, who has an outperform rating and hiked his price target to $130 from $115, said the Huawei settlement unlocked about a $1 or more a share of earnings “from purgatory.”It’s pretty clear there’s at least a bit of animosity between two of the richest men in the world.Of the 29 analysts who cover Qualcomm, 18 have buy or overweight ratings, eight have hold ratings, and three have sell ratings.
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