Qualcomm's EU Fine Reduced Slightly But Court Upholds Antitrust Violations
Portfolio Pulse from Nabaparna Bhattacharya
Qualcomm's EU antitrust fine was slightly reduced by the General Court, but the majority of the fine was upheld. Qualcomm was found guilty of abusing its market position from 2009 to 2011 by selling chipsets at below-cost prices to eliminate competition. Despite contesting the fine, Qualcomm's claims were mostly rejected.
September 18, 2024 | 12:45 pm
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NEUTRAL IMPACT
NVIDIA acquired Icera, the company that filed the complaint against Qualcomm, in 2011. This historical connection is mentioned in the context of Qualcomm's antitrust case.
NVIDIA's connection to the case is historical and does not directly impact its current operations or stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Qualcomm's EU antitrust fine was slightly reduced but largely upheld, confirming its market abuse from 2009-2011. Despite this, QCOM shares are trading slightly higher premarket.
The news confirms Qualcomm's antitrust violations, which could have a negative perception. However, the slight reduction in the fine and the fact that shares are trading higher premarket suggest a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100