The excuse today leans on Poin

The excuse today leans on Point #2, but Apple working to replace Qualcomm chips was already known. So what's actually new here? Point #1: Qualcomm secured an important win with AAPL. The renewed patent license protects Qualcomm's licensing relationship and royalty revenue even as Apple moves toward its own modem technology. Point #2: Apple reducing its reliance on Qualcomm modems is old news, and the market already knew it. New positive news gets ignored. Old news gets recycled as an excuse to sell. It looks like the algorithmic traders found their reason to push $Qualcomm(QCOM)$ into the red today. QTL wins the license. QCT deals with the modem transition. They don't need new news. They just need an excuse.

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