Why Qualcomm's Stock Rose 55% in 2019
Qualcomm (NASDAQ: QCOM) and its investors had an interesting year in 2019. The semiconductor giant's share prices were headed for the moon in April, only to lose most of that jump the next month. The stock still held onto a significant edge after all that, then closed out the year with a bang. According to data from S&P Global Market Intelligence, Qualcomm ended the year with a total gain of 55%.
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In April, Qualcomm finally settled its intellectual property differences with Apple, scoring a one-time payment of at least $5 billion and a six-year cross-licensing agreement between the two technology titans. The settlement drove Qualcomm's stock 23% higher in a single day and 56% higher over the next two weeks.
Source Fool.com