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Axios
Axios
Business
Dan Primack

Qualcomm shares spike 23% on Apple settlement

Qualcomm shares shares closed 23.21% higher on Tuesday, adding over $16 billion to its market cap in just over an hour, after settling a long-running legal dispute with Apple over patent royalties.

The bottom line: Wall Street cheered the chipmaker's removal of a very dark cloud.

Data: Money.net; Chart: Axios Visuals
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