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Qualcomm stock jumps on reported Broadcom interest

Qualcomm stock jumps on reported Broadcom interest

Shares of wireless chip technology giant Qualcomm (QCOM), at $81 billion in market cap, are up $3.86, or nearly 7%, at $58.70, and were up 9% at one point, following a headline from Bloomberg that even bigger giant Broadcom (AVGO) is "exploring a possible takeover" of Qualcomm.

Formerly known as Avago Technologies, Broadcom Limited was created past year after Singapore-based Avago acquired Broadcom Corporation for $37 billion.

More: Don't want an iPhone 8 or iPhone X? Broadcom now lists Singapore and San Jose as co-headquarters. However, Apple may ditch Qualcomm altogether and develop future iPhone and iPad units that rely only on Intel modems, which would drastically affect Qualcomm's bottom line. Qualcomm is looking to complete a $40 billion acquisition of NXP Semiconductors, while Broadcom has a $5.5 billion offer for Brocade Communications that it is waiting to complete.

Читайте также: Qualcomm's latest Apple suit involves Intel

Reports in The Wall Street Journal and elsewhere say Apple is contemplating kicking Qualcomm out of its devices entirely, possibly replacing it with Intel chips. Apple, in suing Qualcomm, thinks the company is nonetheless overcharging for use industry standard patents, which the law requires be licensed out on fair, reasonable, and non-discriminatory (or "FRAND") terms. Apple contends Qualcomm is unfairly charging too much and illegally taking advantage of its market position in chips. Regulators are still reviewing Qualcomm's $38.1 billion proposed acquisition of NXP Semiconductors for $38.1 billion.

Aside from the financial challenges of such a large deal, Broadcom may also encounter close regulatory scrutiny.

Qualcomm may soon be extended a way out courtesy of Broadcom, which itself supplies Apple with Wi-Fi and Bluetooth combo chips. The two companies are already among the top ten providers of chips ranked by revenue in an industry that's consolidating rapidly.

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