MarketWatch First Take: Qualcomm gets big windfall in surprise settlement, but Apple may have saved the iPhone from 5G doom

Apple Inc. and Qualcomm Inc.’s surprise settlement agreement Tuesday will result in a huge cash windfall for Qualcomm, and puts Apple on a faster path to 5G for the iPhone.

The companies issued a terse joint press release Tuesday that did not disclose any financial terms of a settlement that includes a six-year deal with options for more and payments from Apple. Qualcomm QCOM, +23.21% did add a slide to the news release that it sent reporters and analysts to indicate that it expects an additional $2 a share in profit. Wells Fargo analyst Aaron Rakers estimated, based on that statement, that Qualcomm expects about $2.4 billion as product shipments begin to ramp.

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