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Aug. 11, 2020, 1:02 p.m. EDT

Qualcomm stock rallies on report of appeals court tossing out antitrust ruling

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By Wallace Witkowski

QCOM

Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM +2.06% shares rallied Tuesday following a report that a U.S. appeals court overturned an antitrust ruling against the chip maker Qualcomm shares, which had earlier had been trading around $107, rallied 4.5% to $111.13 in recent trading after touching an intraday high of $112.01. On Tuesday, The Wall Street Journal reported a federal appeals court tossed out a trial judge's ruling on the basis that the government hadn't proved Qualcomm had an illegal monopoly. Back in May, a federal judge sided with the Federal Trade Commission in an antitrust suit against Qualcomm, prompting analysts to fear the ruling could cut profits in half.

/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 114.50
+2.31 +2.06%
Volume: 11.72M
Sept. 25, 2020 4:00p
P/E Ratio
48.43
Dividend Yield
2.27%
Market Cap
$129.19 billion
Rev. per Employee
$607,486
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