Apple Inc. (apple.com) cut off billions of dollars in payments to Qualcomm Inc., (qualcomm.com) turning a contract dispute into what one analyst called an "all-out war," forcing Qualcomm, a leading smartphone chip supplier, to slash forecasts given only days ago. Bloomberg.com's Ian King reports on "Bloomberg Technology" on Friday, April 28, 2017. Read more at Apple Halts License Payments to Qualcomm in ‘All-Out War’ | Bloomberg.com.
See also: Qualcomm warns of profit hit as Apple battle intensifies | Reuters.com and iPhone 8 may miss one key feature already in the Galaxy S8 | CNET.com: "Apple's next flagship phone may be incapable of tapping into higher speeds [gigabit LTE] offered by wireless carriers. You can blame its relationships with Intel and Qualcomm."
Apple will report quarterly earnings on Tuesday, May 2, 2017.
Apple $AAPL and Qualcomm $QCOM shares last week (note resiliency of $QCOM on Friday:
Apple Continues to Improperly Interfere with Qualcomm’s Agreements with Contract Manufacturers | Qualcomm.com April 28, 2017: "Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has been informed by Apple Inc. that Apple is withholding payments to its contract manufacturers for the royalties those contract manufacturers owe under their licenses with Qualcomm for sales during the quarter ended March 31, 2017. Apple has indicated it will continue this behavior until its dispute with Qualcomm is resolved ..."
Qualcomm's full press release (28 April 2017) embedded below:
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