Qualcomm Inc (QCOM.O), the largest maker of chips used in smartphones, reported quarterly revenue and profit that beat analysts’ estimates, helping ease concerns surrounding the company’s dispute with Apple Inc (AAPL.O).
Investors pushed the company shares – the worst performer year-to-date on the Philadelphia semiconductor index .SOX – up 2.4 percent to $53.85 in after-market trading on Wednesday.
The iPhone maker sued Qualcomm in January, accusing the chipmaker of overcharging for its chips and refusing to pay some $1 billion in promised rebates.
