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Qualcomm stock jumps 13% on Broadcom acquisition rumors, biggest one-day spike since 2008

Bloomberg is reporting that Singapore’s Broadcom is exploring an acquisition of the San Diego-based mobile chip giant Qualcomm. Here are a few things to know: Qualcomm is involved in a deepening battle with Apple over patent licensing fees. A loss in the battle could devalue the licensing part of Qualcomm’s business. A recent report said Apple … Continue reading “Qualcomm stock jumps 13% on Broadcom acquisition rumors, biggest one-day spike since 2008”

Qualcomm stock jumps 13% on Broadcom acquisition rumors, biggest one-day spike since 2008
[Photo: Justin Sullivan/Getty Images]
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Bloomberg is reporting that Singapore’s Broadcom is exploring an acquisition of the San Diego-based mobile chip giant Qualcomm.

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Here are a few things to know:

  • Qualcomm stock rose more than 13% on the news Friday (its biggest intraday jump since 2008), valuing the company at $92 billion. Broadcom stock fell slightly.
  • The Bloomberg report says the deal is in the early talking stage and may not happen at all.

Broadcom and Qualcomm had no comment.

About the author

Fast Company Senior Writer Mark Sullivan covers emerging technology, politics, artificial intelligence, large tech companies, and misinformation. An award-winning San Francisco-based journalist, Sullivan's work has appeared in Wired, Al Jazeera, CNN, ABC News, CNET, and many others.

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