Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
J.P. Morgan economists said they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura.Marketsread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Rep. Chip Roy, R-Texas, has objected to a $19.1 billion disaster relief bill that was expected to pass unanimously Friday. The bill is likely to next be considered when...Politicsread more
If consummated, the deal would mark the latest in a flurry of activity in the payment technology space.Banksread more
The markets have been slow to recognize the high-stakes game that's playing out on the world stage.Economyread more
An altered video of House Speaker Nancy Pelosi made rounds on social media this week, which critics used to attack her mental state.Technologyread more
Stocks were headed for weekly losses on Friday as investors worry the U.S.-China trade war is hurting economic growth.US Marketsread more
One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange amid the trade war, but the company said the decision is not related to the intensifying...Marketsread more
President Donald Trump, his businesses and members of his family on Friday appealed a federal judge's decision that Deutsche Bank and Capital One can turn over years of...Politicsread more
Apple probably also agreed to pay between $8 and $9 in patent royalties per iPhone, estimated UBS, based on Qualcomm's guidance that it expects earnings per share to increase by $2 as a result of the settlement.
The UBS estimate suggests that Apple paid a high price to end a bitter legal battle that spanned multiple continents and threatened Apple's ability to release a 5G iPhone and put pressure on Qualcomm's licensing business model that contributes over half of the company's profit.
Since the settlement, Qualcomm stock is up over 38%. Apple shares are 2% higher.
The companies, which announced the settlement on Tuesday as a trial in one of their many legal disputes got underway, said that the settlement included a one-time payment from Apple to Qualcomm as well as a chipset supply agreement that suggested that future iPhones would use Qualcomm modem chips.
Arcuri wrote that the one-time payment was likely for royalty payments that Apple had stopped paying when the two companies were embroiled in litigation, and that is how it was calculated.
The settlement is "a solid outcome for Qualcomm and certainly better than the [roughly] $5 [royalty payment] assumption we had been making," Arcuri wrote.
If Apple does pay between $8 and $9 in royalties per iPhone it would be a significant increase over the $7.50 in royalties that it previously paid Qualcomm per phone, according to Apple COO Jeff Williams' testimony in an FTC trial.
Apple and Qualcomm didn't reply to a request for comment. When CNBC asked Qualcomm CEO Steve Mollenkopf how much Apple pays it per phone on Wednesday as well as the size of the one-time payment, he declined to answer.
"Well, a deal like this, there's a lot of value back and forth, and it's just best to keep it confidential," he said.