Why Qualcomm Stock Is Moving Higher Today

QUALCOMM Inc QCOM shares are trading higher Monday after the Supreme Court rejected Apple Inc's AAPL patent challenge.

Qualcomm previously won a dispute against Apple over licensed iPhone patents, but Apple appealed the case. According to a Bloomberg report, the ruling will stand after the U.S. Court of Appeals for the Federal Circuit ruled that Apple can't challenge the decision because of the previous settlement between the two companies.

Qualcomm is a wireless technology innovator and acts as a driving force behind the development, launch and expansion of 5G.

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QCOM Price Action: Qualcomm has traded between $193.58 and $118.22 over a 52-week period.

The stock was up 2.1% at $127.71 at press time, according to data from Benzinga Pro.

Photo: courtesy of Qualcomm.