Why Qualcomm Stock Surged Higher Today

Why Qualcomm Stock Surged Higher Today

On Monday, the U.S. Supreme Court refused to hear Apple's (NASDAQ: AAPL) appeal of a lower court ruling on the company's patent infringement dispute with Qualcomm. As Apple has no higher court to turn to, the case is effectively dead in the water. The suit -- filed in a federal court in California, the home of both businesses -- alleged that Apple infringed a set of Qualcomm patents with its iPhones, iPads, and Apple Watches.