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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]

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 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.

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