FAST FIVE: Qualcomm Shares Crash After Losing Landmark Anti-Trust Case
Just weeks after Qualcomm secured a clear victory in its long-running legal battle with Apple, sending the chipmaker's shares rocketing higher, a federal judge in San Jose ruled against the company in a high-profile anti-trust lawsuit that could seriously disrupt Qualcomm's business model.
The decision sent Qualcomm shares plunging as much as 11% in premarket trade, erasing half of its gains from the Apple settlement.
Koh challenged the company's practice of collecting chip royalties based on a smartphone's price.
President Trump's decision to add Huawei to a US 'blacklist' hammered chip stocks earlier in the week.
More bad news was the last thing Qualcomm investors needed.