Qualcomm’s earnings report and tipster call for delay of Apple’s 5G iPhone 12 series

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Chip designer Qualcomm reported the results of its fiscal third quarter that ended on June 28th. Revenue for the three months came in at $4.89 billion which was flat with the prior year’s fiscal third-quarter revenue after deducting $4.7 billion received from a settlement with Apple in 2019. Earnings of $845 million or 74 cents per share were up 8% on an annual basis and also topped estimates of 71 cents a share.Qualcomm reaches a settlement with Huawei and now has licensing agreements with all major phone manufacturersWhile the numbers were good, the big story is that Qualcomm reported that it signed a long-term patent agreement with Huawei to end a dispute. The no license no chips philosophy used by Qualcomm is still being appealed in court by the company after a negative court decision, and will definitely help the company this year as manufacturers like Huawei buy 5G chips for its phones and networking equipment. Qualcomm says that it will record $1.8 billion in settlement payments from Huawei during the current quarter that ends in September. Patrick Moorhead, an analyst at Moor Insights, stated that Qualcomm now has long-term licensing agreements with every major smartphone manufacturer. As a result of the deal with Huawei, Qualcomm’s shares …

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