Shares of chip technology giant Qualcomm are up $1.82, or 3.4%, at $55.29, after the company yesterday beat fiscal Q4 revenue and earnings expectations, and forecast this quarter's results in line, and management defended the company's position in the wireless modem business amidst rumors its biggest customer, Apple, is planning to dump its chips entirely.
Qualcomm up'd the ante in that battle late this afternoon, suing Apple for breach of contract in California state court in San Diego, Qualcomm's home town, according to a write-up by Bloomberg's Ian King. The filing of the suit is posted online.
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